BUZZ-Wabtec Corp: To buy Faiveley Transport in $1.8 bln deal

Mon Jul 27, 2015 10:54am EDT
Email This Article |
Share This Article
  • Facebook
  • LinkedIn
  • Twitter
| Print This Article
[-] Text [+]

** Rail products supplier's shares up 9.1 pct at $99.65

** Company says it plans to buy France-based Faiveley Transport S.A. in cash-and-stock deal valued at $1.8 bln, including debt

** Wabtec says it has made an "irrevocable" offer to owners of about 51 pct of Faiveley's shares and is in talks with these shareholders

** Wabtec says 100 euros ($110.99) per share offer price will be payable 25 pct in cash and rest in its preferred stock

** Company says it will begin tender offer for remaining shares

** Up to Friday's close, stock had risen about 5 pct this year ($1 = 0.90 euros)