BOSTON & FRANKFURT, Germany--(BUSINESS WIRE)--GE (NYSE:GE, together with its subsidiaries, the "GE Group"), the world’s leading digital industrial company, acting through its wholly owned subsidiary GE Germany Holdings AG, a German stock corporation within the GE Aviation operating unit ("BidCo"), today published the offer document for the voluntary public takeover offer for all outstanding shares of SLM Solutions Group AG (“SLM”) (ISIN: DE 000A111338).
Today’s publishing of the offer document follows GE’s public announcement on September 6, 2016, of its intention to acquire SLM Solutions Group AG.
The offer price is EUR 38 per share, an approximately 50.85% premium over SLM's weighted average share price in the 3-month period prior to announcement and an approximately 36.69% premium over SLM's final share price on September 5, 2016, the last trading day prior to GE's announced intention to acquire the company.
The publication of the offer document was approved by the German Federal Financial Supervisory Authority ("BaFin") in accordance with the German Securities Acquisition and Takeover Act (Wertpapiererwerbs- und Übernahmegesetz - WpÜG). SLM shareholders can accept the offer as set forth in the offer document.
The acceptance period will end at 24:00 hours (CET) on October 24, 2016. The offer is subject to standard market conditions, including, among others, a 75% acceptance condition that must be met at the time of the expiration of the acceptance period.
David Joyce, president & CEO of GE Aviation: “This offer is very attractive for all shareholders. We at GE are excited about the options additive manufacturing holds for us and to develop SLM further in the coming years by extending its line of additive manufacturing equipment and products.” As stated in the offer document, GE is committed to develop SLM further while maintaining its headquarters, as well as retaining its management teams and employees.
About GE and GE Aviation
GE (NYSE: GE) is the world’s Digital Industrial Company, transforming industry with software-defined machines and solutions that are connected, responsive and predictive. GE is organized around a global exchange of knowledge, the "GE Store," through which each business shares and accesses the same technology, markets, structure and intellect. Each invention further fuels innovation and application across our industrial sectors. With people, services, technology and scale, GE delivers better outcomes for customers by speaking the language of industry. www.ge.com.
GE Aviation, an operating unit of GE, is a leading provider of jet and turboprop engines and components, integrated digital, avionics, electrical power and mechanical systems for commercial, military, business and general aviation aircraft. GE Aviation has a global service network to support these offerings. For more information, visit us at www.geaviation.com.
Caution Concerning Forward-looking Statements
This document contains "forward-looking statements" – that is, statements related to future events that by their nature address matters that are, to different degrees, uncertain. For details on the uncertainties that may cause our actual future results to be materially different than those expressed in our forward-looking statements, see the offer document at www.laser-angebot.de and GE’s website at http://www.ge.com/investor-relations/disclaimer-caution-concerning-forward-looking-statements as well as our annual reports on Form 10-K and quarterly reports on Form 10-Q. We do not undertake to update our forward-looking statements. This document also includes certain forward-looking projected financial information that is based on current estimates and forecasts. Actual results could differ materially.