Hitachi wants 100% of Ansaldo STS

Written by Railway Age Staff

Japan’s Hitachi Group has reached an agreement with Paul Singer-led hedge fund Elliott to purchase the investment group’s 31.8% stake in Italy’s Ansaldo STS for €807.8 million ($919.7 million), or $14.46 per share—another step in its desire to own 100% of the company founded by George Westinghouse as Union Switch & Signal in 1881.

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