GE ups its tender offer for Arcam AB

GE has increased the offer price for each Arcam share to SEK 300 (EUR 30.86) from the previous offer of SEK 285 (EUR 29.86) per share. However, the company announces that it will not increase the price of the offer any further. GE has also reduced the minimum acceptance threshold to 75%. The Arcam board of directors continues to unanimously recommend that Arcam's shareholders accept the offer, GE states in a press release. “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.”