Arcam AB (publ) logo

ARCM - Arcam AB (publ) News Story

SEK345 0.0  0.0%

Last Trade - 26/01/18

Sector
Industrials
Size
Micro Cap
Market Cap £n/a
Enterprise Value £n/a
Revenue £67.3m
Position in Universe th / 1827

UPDATE 1-GE raises stake in Sweden's Arcam by buying shares from hedge funds

Wed 27th December, 2017 12:05pm
(Adds background) 
    Dec 27 (Reuters) - General Electric Co  GE.N  said on 
Wednesday it will raise its stake in Swedish 3D printer maker 
Arcam AB  ARCM.ST  to around 95 percent from 77 percent after 
buying shares from hedge funds Elliott and Polygon. 
    GE said it will buy Elliott Management and Polygon 
Investment Group's outstanding shares for 345 Swedish crowns 
($41.44) each. 
    GE also said it plans to acquire all remaining shares of 
Arcam in a compulsory buy-out procedure and to request that the 
company delist its shares from the Nasdaq Stockholm exchange. 
 urn:newsml:reuters.com:*:nBw33cPn3a 
    Activist Elliott built a 10 percent stake in Arcam in 
October 2016 after GE announced an initial tender for the 3D 
printer maker, which the hedge fund rejected.  
    GE later offered a 5 percent bump on its first offer, 
raising it to 300 crowns per share, and Arcam said GE's offer 
was completed in November 2016.  urn:newsml:reuters.com:*:nL4N1CX35C 
    A spokeswoman for Elliott declined to comment while Polygon 
did not respond to requests for comment. 
    Arcam shares were up 10.3 percent at 1200 GMT. 
    3D printing has been used to build prototypes for decades 
but has become more widespread for industrial mass production in 
recent years, with uses including the production of dental 
crowns, medical implants and light aircraft parts. 
    GE has long been one of the main proponents of industrial 3D 
printing, using it to make fuel nozzles for its new LEAP jet 
engine in what marked a big step in using the technology in mass 
production.     
($1 = 8.3276 Swedish crowns) 
 
 (Reporting by Philip George in Bengaluru and Maiya Keidan and 
Ben Martin in London; Editing by Sayantani Ghosh and Adrian 
Croft) 
 ((P.George@thomsonreuters.com; within U.S. +1 646 223 8780, 
outside U.S. +91 80 6749 1609; Reuters Messaging: 
p.george@thomsonreuters.net)) 
 
Keywords: GE 3DPRINTING/SWEDEN
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