GE Aviation made an offer to acquire Arcam AB (OM:ARCM) for SEK 5.9 billion in cash on September 2, 2016. GE Aviation will pay SEK 285 per share. As of October 27, 2016, GE will pay SEK 300 per share for all the outstanding shares of Arcom. The offer consideration will be reduced accordingly should Arcam, prior to the settlement of the Offer, make any dividend or other value transfers. The offer does not include the preference shares of series C in Arcam. The acquisition will be financed through cash on hand and existing credit facilities. GE Group does not intend to make any material changes for Arcam's employees, including their terms of employment and the locations of business. GE Group plans to retain and develop Arcam’s current and valuable management and employees. For the year ended December 31, 2015, Acram had total revenue of $80 million (SEK 671.12 million). The acquisition is subject to minimum tender, necessary regulatory and governmental approvals, approval from competition authorities. The offer will not be subject to any financing condition. On September 2, 2016, the Board of Directors of General Electric approved the proposed offer and the purchase price of SEK 285 per share, subject to completion of customary preparatory actions. As of October 10, 2016, GE received antitrust clearance. On September 2, 2016, GE Aviation and the Board of Directors of Arcam agreed on a purchase price of SEK 285 per share, together with a unanimous recommendation by the Board of Directors of Arcam to support the proposed offer. If GE Aviation obtains more than 90% stake in Arcam, GE intends to commence a compulsory acquisition to acquire remaining shares. The acceptance period of the offer is expected to commence on September 7, 2016 and expire on October 14, 2016. Subject to the Offer being declared unconditional no later than on or around October 19, 2016, the preliminary date for settlement is expected to be October 24, 2016. On October 13, 2016, AP Fonden 1 accepted GE's offer. The ordinary shares in Arcam tendered during the initial acceptance period of the Offer, together with the ordinary shares in Arcam acquired by GE on the market, correspond to approximately 40.42% of the total number of outstanding shares and votes in Arcam on a fully diluted basis. GE extends the acceptance period up to and including November 1, 2016. As of October 27, 2016, the acceptance period was extended to November 10, 2016 as well as lowered the acceptance threshold condition to a minimum of 75%. The Board of Arcam reiterates its unanimous recommendation to the shareholders to accept the offer by GE. On November 14, 2016, all conditions for completion of the offer have been satisfied or waived. As of November 14, 2016, the acceptance period was extended to November 29, 2016. As of November 10, 2016, approximately 73.57% shareholders of Arcam have accepted the offer. The acceptance period for the offer ended on November 29, 2016 and as on this date approximately 76.15% shareholders of Arcam have accepted the offer and tendered the shares. Carnegie Investment Bank AB acted as financial advisor and Baker & McKenzie Advokatbyrå KB acted as legal advisor for Arcam. Morgan Stanley & Co. LLC and Morgan Stanley & Co. International plc and Handelsbanken Capital Markets acted as financial advisors for GE Aviation. Dick Lundqvist, Fredrik Palm and Caroline Jägenstedt Wikman, Erik Åslund, Simon Söderholm, Karin Källström, Simona Tobler Westerlund and Lukas Åhman of Gernandt & Danielsson Advokatbyrå KB acted as legal advisors for GE Aviation. Currency conversion has been done based on rates from www.oanda.com as of DEcember 31, 2015. GE Aviation completed the acquisition of 46.4% stake in Arcam AB (OM:ARCM) for SEK 2.9 billion in cash on November 29, 2016. GE after announcement of the Offer, acquired 6.3 million ordinary shares in Arcam on the market.