NEW YORK (TheStreet) -- Shares of General Electric (GE) - Get Report were declining in mid-morning trading on Thursday as the company increased its bid for Swedish 3D printer maker Arcam (AMAVF) and agreed to purchase German 3D printing company Concept Laser.
The digital industrial company raised its offer to 300 crowns per share from 285 crowns per share, which values Arcam at 6.2 billion crowns, according to Reuters. GE also reduced its minimum acceptance rate to 75%.
"We have taken further steps to pursue Arcam ownership as we advance our additive strategy," CEO of GE Aviation David Joyce said in a statement.
The move comes after GE yesterday abandoned its proposed $732.9 million acquisition of 3D printing firm SLM Solutions as activist investor Elliott Advisors blocked the deal.
Additionally, GE purchased a 75% stake in privately-held Concept Laser for $599 million. The deal allows GE to take full ownership in a number of years.
Concept Laser primarily does business in the aerospace, medical and dental industries, while Arcam is focused on aerospace and medical implants, Reuters reports.
GE has pushed to enter the additive manufacturing market as 3D printing technology is adopted by more and more industrial mass production companies.
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Separately, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author.
The team rates GE as a Buy with a ratings score of B-. The company's strengths can be seen in multiple areas, such as its revenue growth, impressive record of earnings per share growth and notable return on equity. The team feels its strengths outweigh the fact that the company has had lackluster performance in the stock itself.
You can view the full analysis from the report here: GE