October 27, 2016 / 6:50 AM / 3 years ago

GE raises bid for 3D printing firm Arcam

STOCKHOLM, Oct 27 (Reuters) - General Electric on Thursday raised its recommended bid for Arcam to value the Swedish 3D printer maker at 6.2 billion crowns ($696 million), a day after abandoning its planned takeover of Germany’s SLM Solutions.

GE lifted its bid to 300 crowns per share from 285 crowns.

The U.S. industrial conglomerate, one of Arcam’s largest customers, also said it had reduced the minimum acceptance threshold in the offer to 75 percent.

The bid represents a premium of around 61 percent relative to Arcam’s closing price the day before the first bid was made on September 6.

GE said it controlled 46 percent of Arcam shares.

The company separately said it would buy a 75 percent stake in German 3D printer maker Concept Laser.

$1 = 8.9103 Swedish crowns Reporting by Johannes Hellstrom; editing by Niklas Pollard

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