SLM Solutions Group AG and GE Germany Holdings AG agree on business combination; GE Germany Holdings AG announces voluntary public takeover offer for all shares of SLM Solutions Group AG
Lübeck, September 6, 2016 – Today, SLM Solutions Group AG („SLM Solutions“) and GE Germany Holdings AG, an indirect 100% subsidiary of GE Aviation and part of the General Electric Group („Bidder“), entered into a so called Business Combination Agreement (“BCA”) by which the Bidder undertook to, inter alia, launch a voluntary public takeover offer for all outstanding SLM Solutions shares. The Bidder intends to offer a cash consideration of EUR 38.00 per SLM Solutions share. This represents a premium of approximately 36.7% to the current share price (closing price of XETRA trading system on September 5, 2016).
In the BCA, SLM Solutions and the Bidder further agreed on the major cornerstones of the transaction and their mutual understanding of SLM Solutions’ future development in case the takeover offer is successfully completed. SLM Solutions and the Bidder believe that the intended cooperation and business combination between the two companies represent an excellent opportunity for customers, employees and shareholders of both companies alike. General Electric assured to support SLM Solutions’ further development on a long-term basis and to preserve and expand the existing sites of the company, including the size of the workforce. Furthermore, General Electric would welcome if the SLM Solutions’ Executive Board Members will continue their office in the company.
The Bidder also informed the company that it executed today share purchase agreements with significant shareholders of the company which will enable the Bidder to acquire a total of 5,655,369 shares in the company (representing 31.5% of all SLM Solutions shares) in case the takeover offer is successfully completed.
Following receipt of the offer document, which is to be published by the Bidder, SLM Solutions’ Executive Board and Supervisory Board will issue a reasoned opinion in accordance with their statutory duties and provide further details on the contents of the BCA. Subject to the evaluation of the offer document, the Executive Board and Supervisory Board currently intend to support the envisaged takeover offer. The reasoned opinion will be published on SLM Solutions’ website under www.slm-solutions.com/investor-relations.
SLM Solutions Group AG
The Executive Board
ABOUT THE COMPANY
Lübeck-based SLM Solutions Group AG is a leading provider of metal-based additive manufacturing technology. The company’s shares are traded in the Prime Standard of the Frankfurt Stock Exchange. The stock has been listed in the TecDAX index since March 21, 2016. SLM Solutions focuses on the development, assembly and sale of machines and integrated system solutions in the field of selective laser melting. SLM Solutions currently employs over 310 members of staff in Germany, the USA, Singapore, Russia and China. The products are utilised worldwide by customers in particular from the aerospace, energy, healthcare and automotive industries.