General Electric (GE) Says Tender Offer for SLM Solutions Lapsed, Minimum Not Met

October 26, 2016 12:40 PM EDT

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GE (NYSE: GE) announced that the minimum acceptance condition for tendered shares of SLM Solutions of Germany was not satisfied at the time of the expiration of the acceptance period on Monday, October 24. Consequently, the offer has lapsed.

GE made a very compelling offer of €38 per share for SLM shares, which constituted a 38% premium over the SLM stock price as of September 5, the day before GE made its public offer.

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