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Stratasys gets unsolicited proposal from 3D Systems; shares gain

Published 2023-06-02, 05:56 a/m
Updated 2023-06-02, 05:56 a/m
© Reuters.

© Reuters.

Stratasys Ltd (NASDAQ:SSYS), a company developing polymer 3D printing solutions, announced that it has received an unsolicited non-binding indicative proposal from 3D Systems Corporation (NYSE:DDD).

The South Carolina-based manufacturer of 3D printers offered to acquire Stratasys for $7.50 in cash and 1.2507 newly issued shares of common stock of 3D Systems per ordinary share of Stratasys.

Stratasys shares traded 7% higher in pre-market Friday.

Stratasys announced on May 25 that it will merge with Desktop Metal (NYSE:DM) in an all-stock transaction.

“The Stratasys Board of Directors will carefully review the 3D Systems proposal, in accordance with its fiduciary duties, and its obligations under Stratasys’ merger agreement with Desktop Metal, in consultation with its independent financial and legal advisors,” the company said in a press release.

A few days ago, the company also said that the partial tender offer by Nano Dimension Ltd (NASDAQ:NNDM), based on $18.00 per share in cash, “substantially undervalues the Company and is NOT in the best interests of Stratasys shareholders.”

Nano Dimension owns 14.2% of Stratasys. The company is now trying to acquire an additional 38.8-40.8% of the 3D company.

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