Nikon offers to acquire SLM Solutions for €622M

Sep. 02, 2022 9:47 AM ETNikon Corporation (NINOF)NINOY, SLGRFBy: Jessica Kuruthukulangara, SA News Editor1 Comment

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  • Nikon (OTCPK:NINOF) on Friday announced an offer to acquire SLM Solutions (OTC:SLGRF) for €20/share in cash, or €622M (¥84B), as it aims to become a global leader in metal additive manufacturing.
  • NINOF will also launch a separate public offer to acquire certain convertible bonds issued by SLGRF.
  • NINOF will subscribe to all newly issued shares in SLGRF resulting from a capital increase from authorized capital of ~10% of registered share capital for €45M.
  • The subscription is independent of the takeover offer's closing.
  • NINOF already secured 61.1% of SLGRF's share capital on a fully diluted basis.
  • The company plans to finance the takeover offer with cash on hand.
  • NINOF has committed to not enter into a domination and/or profit and loss transfer deal for at least three years.
  • The acquisition expands NINOF's portfolio of metal additive manufacturing solutions and customer base.
  • SLRGF's current management will continue to lead the firm.
  • Profit contribution from the acquisition up to FY25 is expected to be limited, but will likely accelerate up to FY30.
  • Closing of takeover offer is expected between Jan. and Jun. 2023.

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