Construction M&A » By The Online Investor Staff, updated Tue., Jan. 26, 4:14 AM
Recent mergers and acquisitions in the Construction M&A category.
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Slide #27. Wabtec Corporation — Fandstan
Acquirer:
Wabtec Corporation (NYSE:WAB)
Acquiree:
Fandstan
Details:
Wabtec Corporation (NYSE: WAB) has signed a definitive agreement to acquire Fandstan Electric Group Ltd., a leading rail and industrial equipment manufacturer, for cash of about $215 million. Based in London, England, Fandstan Electric has annual sales of about $235 million. Wabtec expects the transaction to be completed in the first quarter of 2014, subject to customary closing conditions and competition authority clearance.
Wabtec primarily serves the global freight rail and passenger transit industries. Co. provides its products and services through two segments: Freight, which primarily manufactures and provides aftermarket parts and services for new locomotives; provides components for new and existing locomotives and freight cars; builds new commuter locomotives; and supplies rail control and infrastructure products, among others: and Transit, which primarily manufactures and services components for new and existing passenger transit vehicles, mainly regional trains, high speed trains, subway cars, light-rail vehicles and buses; and supplies rail control and infrastructure products, among others.
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Avg. Broker Rec.
 
|
Buy (3.31 out of 4) 47th percentile
(ranked lower than approx. 53% of all stocks covered)
Analysts' Target Price: WAB Stock Forecast Based on Zacks ABR data; powered by Xignite |
