General Electric Company
Elliott Management, an activist investor and SLM Solutions shareholder
General Electric's offer of 38 euros ($33.88) a share for SLM represented a 37 percent premium to the closing price prior to the announcement.
Last Friday, General Electric made it clear it won't change the terms and won't budge on its 38 euro per share offer.
Solid Discipline Enacted
Sutherland continued that there was no real reason for General Electric to boost its already generous bid, which values SLM' at 100 times its
From Elliott Management's point of view, perhaps another industrial giant will be willing to pay more for SLM. However, General Electric's proposal was first issued in early September and no other counter bids emerged during this time period.
With no path toward an acquisition at the price General Electric wants to pay, the deal is officially dead as the activist investor garnered enough support to block the deal in a vote that required a 75 percent approval.
General Electric didn't become the powerhouse it is today by merely throwing money around and spending more than it committed to just to secure a deal.
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