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Germany’s SLM recommends shareholders accept Nikon takeover offer
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(Reuters) – The board of German 3D metal printing machine maker SLM Solutions Group AG on Tuesday recommended that its shareholders accept a takeover offer from Japanese camera maker Nikon Corp.
(Reuters) – The board of German 3D metal printing machine maker SLM Solutions Group AG on Tuesday recommended that its shareholders accept a takeover offer from Japanese camera maker Nikon Corp.
Nikon announced last month its plans to take over SLM Solutions for 622 million euros ($607.20 million), in a bid to become the global leader in metal additive manufacturing.
The Japanese company has obtained binding commitments from SLM Solutions’ key shareholders Elliott Advisors UK Limited (Cornwall), ENA Investment Capital and SLM Solutions’ founder Hans J. Ihde to support the transaction by way of irrevocable tender commitments comprising all of SLM Solutions’ shares.
“Management Board and the Supervisory Board consider the offer price of EUR 20 per SLM Solutions share offered by Nikon as fair, adequate and attractive,” SLM Solutions said in a statement.
Nikon’s tender offer ends on Nov. 1, 2022.
($1 = 1.0244 euros)
(Reporting by Jaiveer Singh Shekhawat in Bengaluru; Editing by Paul Simao)
A takeover offer is a proposal made by one company to acquire another company, typically by purchasing its shares at a specified price. This can be friendly or hostile, depending on the target company's response.
A shareholder is an individual or institution that owns shares in a company. Shareholders have a claim on the company's assets and earnings and can influence company decisions through voting rights.
Metal additive manufacturing is a process of creating metal parts by adding material layer by layer, often using 3D printing technology. This method allows for complex designs and reduced material waste.
A tender offer is a public proposal by a company to purchase some or all of shareholders' shares at a specified price, usually at a premium over the current market price.
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