12 September 2016

Gernandt & Danielsson advisor to General Electric in connection with public takeover offer

Gernandt & Danielsson advises General Electric in connection with its public takeover offer to the shareholders of Arcam Aktiebolag (publ) in a total value of approximately SEK 5.86 billion

GE Aviation, an operating unit within the General Electric Group, announced on 6 September 2016 a recommended public takeover offer to the shareholders of Arcam Aktiebolag (publ) (“Arcam”). The offered consideration amounts to SEK 285 in cash for each share and the total value of the offer amounts to approximately SEK 5.86 billion. The Arcam share is traded on Nasdaq Stockholm (Mid cap).

Arcam, based in Mölndal, invented the electron beam melting machine for metal-based additive manufacturing, and also produces advanced metal powders. Its customers are in the aerospace and healthcare industries. Arcam generated $68 million in revenues in 2015 with approximately 285 employees. In addition to its Sweden site, Arcam operates AP&C, a metal powders operation in Canada, and DiSanto Technology, a medical additive manufacturing firm in Connecticut, as well as sales and application sites worldwide.

General Electric Company has locations in more than 180 countries with approximately 333,000 employees worldwide and total revenues of USD 117.4 billion in 2015. GE Aviation, an operating unit within the General Electric Company, is a leading provider of jet and turboprop engines and components, integrated digital, avionics, electrical power and mechanical systems for commercial, military, business and general aviation aircraft.

Gernandt & Danielsson is advising GE with a team primarily consisting of Partners Dick Lundqvist, Fredrik Palm and Caroline Jägenstedt Wikman, Senior Associate Erik Åslund as well as Associates Simon Söderholm, Karin Källström, Simona Tobler Westerlund and Lukas Åhman.

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