Filed
by General Electric Company
Pursuant
to Rule 425 under the Securities Act of 1933, as amended,
And
deemed filed pursuant to Rule 14a-12
Under
the Securities Exchange Act of 1934, as amended
Subject
Company: General Electric Company
Commission
File No.: 001-00035
Date:
May 23, 2018
The following slide was included
in a presentation made available to the public by General Electric Company on May 23, 2018:
countries with operations of combined industry heritage 25 0 yrs empl o y ees worldwide ~ 27 K ~ 50 c ombined revenue ~ $ fortune 500 company 8B 500 A STRONGER, BROADER AND MORE COMPETITIVE COMPANY SHAREHOLDER BENEFIT Complementary strengths will allow combined company to manage through the transportation cycle and be best positioned for long - term growth. CUSTOMER BENEFIT Expanded suite of solutions capable of seamless integration will be a win for the industry and help customers overcome their toughest operational challenges. EMPLOYEE BENEFIT This merger is an exceptional cultural fit – with a shared focus on reliability, quality, safety, and customer relationships. Together, we will foster new growth opportunities for our people as part of a stronger, more diversified company. Accelerating the future of transportation GE Transportation and Wabtec Corporation are joining forces EXPECTED CLOSING The transaction is expected to close in early 2019, pending regulatory approvals and other customary closing conditions. For important information about securities laws and forward looking statements involving this transaction, please see: http://www.ge.com/investor - relations/special - transaction - disclaimer - securities - laws - and - forward - looking - statements OUR COMBINED VALUE E qu i p m e n t S e r v ic e s T ra n s it Aftermarket Services F r e i g h t Digital Train Control
Additional
Information and Where to Find It
In
connection with the proposed transaction between GE and Wabtec, Transportation Systems Holdings Inc., a wholly owned subsidiary
of GE created for the transaction (“SpinCo”), will file with the SEC a registration statement on Form S-4/S-1 containing
a prospectus or a registration statement on Form 10 and Wabtec will file with the SEC a registration statement on Form S-4 that
will include a combined proxy statement/prospectus. If the transaction is effected via an exchange offer, GE will also file with
the SEC a Schedule TO with respect thereto
.
This communication is not a substitute for any proxy statement, registration
statement, proxy statement/prospectus or other documents GE, Wabtec and/or SpinCo may file with the SEC in connection with the
proposed transaction. INVESTORS AND SECURITY HOLDERS ARE URGED TO READ CAREFULLY AND IN THEIR ENTIRETY THESE DOCUMENTS WHEN THEY
BECOME AVAILABLE, ANY AMENDMENTS OR SUPPLEMENTS TO THESE DOCUMENTS, AND OTHER DOCUMENTS FILED BY GE, WABTEC OR SPINCO WITH THE
SEC IN CONNECTION WITH THE PROPOSED TRANSACTION, BECAUSE THESE DOCUMENTS WILL CONTAIN IMPORTANT INFORMATION. Investors and security
holders will be able to obtain free copies of these materials and other documents filed with the SEC by GE, Wabtec and/or SpinCo
through the website maintained by the SEC at www.sec.gov. Investors and security holders will also be able to obtain free
copies of the documents filed by GE, Wabtec and/or SpinCo with the SEC from the respective companies by directing a written request
to GE and/or SpinCo at General Electric Company, 41 Farnsworth Street, Boston, Massachusetts 02210 or by calling 617-443-3400,
or to Wabtec at Wabtec Corporation, 1001 Air Brake Avenue, Wilmerding, PA 15148 or by calling 412-825-1543.
No
Offer or Solicitation
This
communication is for informational purposes only and not intended to and does not constitute an offer to subscribe for, buy or
sell, the solicitation of an offer to subscribe for, buy or sell, or an invitation to subscribe for, buy or sell, any securities
or the solicitation of any vote or approval in any jurisdiction pursuant to or in connection with the proposed transaction or
otherwise, nor shall there be any sale, issuance or transfer of securities in any jurisdiction in contravention of applicable
law. No offer of securities shall be made except by means of a prospectus meeting the requirements of Section 10 of the Securities
Act of 1933, as amended, and otherwise in accordance with applicable law.
Participants
in the Solicitation
This
communication is not a solicitation of a proxy from any investor or security holder. GE, Wabtec, SpinCo, their respective directors,
executive officers and other members of its management and employees may be deemed to be participants in the solicitation of proxies
from shareholders of Wabtec in connection with the proposed transaction. Information regarding the persons who may, under the
rules of the SEC, be deemed participants in the
solicitation
of proxies in connection with the proposed transaction, including a description of their direct or indirect interests, by security
holdings or otherwise, will be set forth in the relevant materials when filed with the SEC. Information regarding the directors
and executive officers of GE is contained in GE’s proxy statement for its 2018 annual meeting of stockholders, filed with
the SEC on March 12, 2018, its Annual Report on Form 10-K for the year ended December 31, 2017, which was filed with the SEC on
February 23, 2018, its Quarterly Report on Form 10-Q for the quarter ended March 31, 2018, which was filed with the SEC on May
1, 2018 and certain of its Current Reports filed on Form 8-K. Information regarding the directors and executive officers of Wabtec
is contained in Wabtec’s proxy statement for its 2018 annual meeting of stockholders, filed with the SEC on April 5, 2018,
its Annual Report on Form 10-K for the year ended December 31, 2017, which was filed with the SEC on February 26, 2018, its Quarterly
Report on Form 10-Q for the quarter ended March 31, 2018 which was filed with the SEC on May 4, 2018 and certain of its Current
Reports filed on Form 8-K. These documents can be obtained free of charge from the sources indicated above.
Caution
Concerning Forward-Looking Statements
This
communication contains “forward-looking” statements as that term is defined in Section 27A of the Securities Act of
1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended by the Private Securities Litigation Reform
Act of 1995, including statements regarding the proposed transaction between GE and Wabtec. All statements, other than historical
facts, including statements regarding the expected timing and structure of the proposed transaction; the ability of the parties
to complete the proposed transaction considering the various closing conditions; the expected benefits of the proposed transaction,
including future financial and operating results, the tax consequences of the proposed transaction, and the combined company’s
plans, objectives, expectations and intentions; legal, economic and regulatory conditions; and any assumptions underlying any
of the foregoing, are forward-looking statements.
Forward-looking
statements concern future circumstances and results and other statements that are not historical facts and are sometimes identified
by the words “may,” “will,” “should,” “potential,” “intend,” “expect,”
“endeavor,” “seek,” “anticipate,” “estimate,” “overestimate,” “underestimate,”
“believe,” “could,” “project,” “predict,” “continue,” “target”
or other similar words or expressions. Forward-looking statements are based upon current plans, estimates and expectations that
are subject to risks, uncertainties and assumptions. Should one or more of these risks or uncertainties materialize, or should
underlying assumptions prove incorrect, actual results may vary materially from those indicated or anticipated by such forward-looking
statements. The inclusion of such statements should not be regarded as a representation that such plans, estimates or expectations
will be achieved. Important factors that could cause actual results to differ materially from such plans, estimates or expectations
include, among others, (1) that one or more closing conditions to the transaction, including certain regulatory approvals, may
not be satisfied or waived, on a timely basis or otherwise, including that a governmental entity may prohibit, delay or refuse
to grant approval for the consummation of the proposed
transaction,
may require conditions, limitations or restrictions in connection with such approvals or that the required approval by the stockholders
of Wabtec may not be obtained; (2) the risk that the proposed transaction may not be completed on the terms or in the time
frame expected by GE or Wabtec, or at all; (3) unexpected costs, charges or expenses resulting from the proposed transaction;
(4) uncertainty of the expected financial performance of the combined company following completion of the proposed transaction;
(5) failure to realize the anticipated benefits of the proposed transaction, including as a result of delay in completing
the proposed transaction or integrating the businesses of GE, Wabtec and SpinCo; (6) the ability of the combined company
to implement its business strategy; (7) difficulties and delays in achieving revenue and cost synergies of the combined company;
(8) inability to retain and hire key personnel; (9) the occurrence of any event that could give rise to termination
of the proposed transaction; (10) the risk that stockholder litigation in connection with the proposed transaction or other
settlements or investigations may affect the timing or occurrence of the proposed transaction or result in significant costs of
defense, indemnification and liability; (11) evolving legal, regulatory and tax regimes; (12) changes in general economic
and/or industry specific conditions; (13) actions by third parties, including government agencies; and (14) other risk factors
as detailed from time to time in GE’s and Wabtec’s respective reports filed with the SEC, including GE’s and
Wabtec’s annual reports on Form 10-K, periodic quarterly reports on Form 10-Q, periodic current reports on Form 8-K and
other documents filed with the SEC. The foregoing list of important factors is not exclusive.
Any
forward-looking statements speak only as of the date of this communication. Neither GE nor Wabtec undertakes any obligation to
update any forward-looking statements, whether as a result of new information or development, future events or otherwise, except
as required by law. Readers are cautioned not to place undue reliance on any of these forward-looking statements.
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