3D Systems makes takeover bid for Stratasys

Just a few days ago, it became known that the 3D printer manufacturer Stratasys wants to merge with Desktop Metal. The Israeli manufacturer Nano Dimension, which has already been trying to take over Stratasys for a few weeks, then launched another takeover bid. Now 3D Systems is also trying to take over its competitor Stratasys.

Stratasys announced that 3D Systems has made an unsolicited tender offer. The offer consists of a combination of cash and stock: $7.50 in cash and 1,2507 newly issued shares of 3D Systems common stock per share of Stratasys common stock. Given 3D Systems’ current stock price of $8.33, the per share value of the offer is approximately $17.91 per share. Given Stratasys’ 68.40 million shares, the total value of the acquisition is approximately $1.225 billion. This puts the 3D Systems offer below the rejected Nano Dimenson offer of $18 per share.

The Stratasys board of directors will carefully consider the 3D Systems proposal in accordance with its fiduciary duties and its obligations under the Stratasys merger agreement with Desktop Metal, in consultation with its independent financial and legal advisors. The Stratasys board of directors has not made any determination regarding 3D Systems’ proposal under the merger agreement with Desktop Metal, which remains in effect, nor has it changed its unanimous approval, recommendation and declaration of convenience of the agreed transaction with Desktop Metal. Stratasys stockholders are not required to take any action with respect to the 3D Systems proposal at this time.

Earlier, on May 30, 2023, Stratasys announced that its Board of Directors, after consultation with its independent financial and legal advisors, unanimously determined that Nano Dimension’s partial offer to acquire Stratasys common stock for $18.00 per share in cash significantly undervalues the Company and is not in the best interests of Stratasys stockholders. The Board unanimously recommends that shareholders reject the offer and issue a notice of opposition to the offer.