GE Enhances Tender Offer for Arcam AB
27 October 2016 - 5:00PM
Business Wire
GE (NYSE: GE) today announced that it has changed the terms of
its tender offer for all of the outstanding shares of Arcam AB of
Sweden, and has extended the acceptance period through 5 p.m. CET
on November 10.
GE has increased the offer price for each Arcam share to 300
SEK. GE will not further increase the price of the offer. GE has
also reduced the minimum acceptance threshold to 75%.
The Arcam board of directors continues to unanimously recommend
that Arcam's shareholders accept GE's offer.
“We have taken further steps to pursue Arcam ownership as we
advance our additive strategy,” said David Joyce, GE vice chairman
and president and CEO of GE Aviation. “We are delighted to achieve
the strategic cornerstone in our additive strategy by announcing
today our acquisition of Concept Laser. The Arcam offer is a next
step in our strategy. We have become the partner of choice in the
additive space and are receiving numerous requests for alternative
ways to accelerate our strategy.”
As a leading end user of additive today, GE is committed to
driving the additive revolution by providing world-class equipment
and technologies to customers across several industries.
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version on businesswire.com: http://www.businesswire.com/news/home/20161026007044/en/
GE AviationMedia Contact:Rick
Kennedy+1.513.607.0609rick.l.kennedy@ge.comorInvestor
Contract:Matt Cribbins+1.617.443.3003m.cribbins@ge.com
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