Bank of America Identifies Top Asia-Pacific Semiconductor Stocks Poised for AI-Driven Growth 
Apple's Foldable iPhone Faces Engineering Setbacks, Mass Production Timeline at Risk 
FedEx Pilots and Union Reach Tentative Agreement on 40% Pay Increase 
Abbott Laboratories Ordered to Pay $53 Million in Premature Infant Formula Lawsuit 
Tokyo Electric Power Attracts Major Investors Amid Billion-Dollar Restructuring Push 
Ford Issues Major Recall on Over 422,000 Vehicles Due to Windshield Wiper Defect 
Kia Cuts EV Sales Target for 2030 Amid Slowing Demand and U.S. Policy Shifts 
Pilots Fear Retaliation for Refusing Middle East Flights Amid Ongoing Conflict 
NIO ES9 SUV Launch Sends HK Shares Down 7% Despite Bold Pricing Strategy 
Samsung Electronics Posts Eightfold Profit Surge Driven by AI Chip Demand 
Deere & Company Agrees to $99 Million Settlement Over Right-to-Repair Dispute 
Alibaba Shares Slide as Jefferies Slashes Price Target Over AI Spending and Business Losses 
Pershing Square Bids €30.40 Per Share to Acquire Universal Music Group in $9.4B Deal 
Goldman Sachs, ANZ Cut Oil Forecasts Amid U.S.-Iran Ceasefire Hopes 
SpaceX IPO: Retail Investors to Play Historic Role in Record-Breaking Public Offering 
BHP's Incoming CEO Visits China Amid Pricing Dispute with CMRG 
WILMERDING, Pa., Oct. 26, 2016 -- Wabtec Corporation (NYSE:WAB) said the U.S. Department of Justice has filed a proposed consent decree with the U.S. District Court in Washington, D.C. to approve Wabtec’s combination with Faiveley Transport S.A. (Euronext Paris:LEY). The proposed consent decree is seeking approval of a settlement resolving the DOJ’s concerns about the acquisition. The settlement is conditioned upon the sale of certain U.S. assets owned by Faiveley. Terms of the sale have already been agreed upon with the buyer and approved by the DOJ.
As previously disclosed, completion of the proposed combination of Wabtec and Faiveley Transport also remains subject to the European Commission’s approval of the buyer of Faiveley Transport Gennevilliers, the sintered brake material activity of Faiveley Transport.
After these divestitures have been completed, the acquisition of the Faiveley family stake by Wabtec is expected to occur in November 2016.
Wabtec Corporation is a global provider of value-added, technology-based products and services for freight rail, passenger transit and other industrial segments. Faiveley Transport is a global supplier of high added value integrated systems for the railway industry.
Forward-Looking Statements
Statements contained in this press release which are not historical facts are forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. These forward-looking statements and certain information contained in the release involve risks and uncertainties that could result in actual results differing materially from expected results, including the timing of Wabtec’s proposed acquisition of Faiveley Transport, which is subject to regulatory and other conditions. Forward-looking statements represent Wabtec’s expectations and beliefs concerning future events, based on information available to Wabtec as of the date of this release. Wabtec undertakes no obligation to publicly update and revise any forward-looking statements to reflect events or circumstances that may arise after the date of this release. Additional information regarding these and other factors is contained in Wabtec’s SEC filings, including without limitation Wabtec’s Form 10-K and Form 10-Q filings.
Contact: Tim Wesley Phone: 412.825.1543 E-mail: [email protected]
