Wabtec acquires Faiveley Transport for $1.8 billion

Client(s) Wabtec Corporation

Jones Day advised Wabtec Corporation in the acquisition of Faiveley Transport S.A., a global supplier of high added value integrated systems for the railway industry, for a total of $1.8 billion in cash and stock, including assumed debt. This acquisition was completed pursuant to a two-step process: first, a block acquisition of approximately 51 percent of the target's share capital, followed by a cash tender offer, on a principal basis, complemented by an exchange offer, on a subsidiary basis. The target's shares were then delisted following the implementation of a mandatory squeeze-out procedure.

In addition to M&A representation, Jones Day provided antitrust, executive compensation, and tax advice regarding this transaction.