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Japanese camera maker Nikon Corp announced plans to take over German 3D metal printing machine maker SLM Solutions Group for 622 million euros ($622 million) to become a global leader in metal additive manufacturing.
The deal values SLM Solutions at 20 euros per share, representing a premium of 75% to Thursday’s closing price. Shares in SLM Solutions traded 73% higher on Friday following the news.
Nikon said it has already obtained binding commitments from SLM‘s key shareholders Elliott Advisors, ENA Investment Capital and SLM‘s founder Hans J. Ihde to support the deal, which is expected to close in the first half of 2023.
Nikon’s deep technology heritage and excellence in manufacturing will help SLM to extend its technology leadership position and serve customers even better.
As part of the transaction, SLM is carrying out a 10% capital increase, which is fully subscribed by Nikon at 20 euros per share.