Deals
GE Calls Singer’s Bluff in Showdown Over 3-D Printing Firm
- Industrial giant willing to walk away from deal, CFO says
- Tender offer carrying 38% premium expires on Oct. 24
QuickTake: 3D Printing's Production Disruption
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General Electric Co. refused to raise its price for 3-D printer company SLM Solutions Group AG after hedge fund Elliott Management Corp. said it would reject the tender offer, setting up a showdown between the industrial giant and billionaire Paul Singer.
SLM’s management joined GE in urging shareholders of the German company to accept the offer before it expires on Oct. 24, GE said Friday in a statement. The company last month offered 38 euros a share for SLM as part of a plan to buy it and Sweden’s Arcam AB for a combined $1.4 billion in a significant expansion of the U.S. company’s 3-D-printing capabilities.