Germany's SLM recommends shareholders accept Nikon takeover offer

Nikon SLM Solutions AG

11/10/2022 18:49

Oct 11 (Reuters) - The board of German 3D metal printing
machine maker SLM Solutions Group AG  AM3D.DE  on Tuesday
recommended that its shareholders accept a takeover offer from
Japanese camera maker Nikon Corp  7731.T .
    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)
 ((JaiveerSingh.Shekhawat@thomsonreuters.com;))