An unsolicited non-binding indicative proposal to acquire Stratasys from 3D Systems Corporation (NYSE: DDD) (“3D Systems”) for $7.50 in cash and 1.2507 newly issued shares of 3D Systems common stock per ordinary share was received by Stratasys Ltd. (Nasdaq: SSYS), a pioneer in polymer 3D printing solutions.
According to a merger agreement between Stratasys and Desktop Metal, Inc. (NYSE: DM) (“Desktop Metal”), announced on May 25, 2023, the two companies will merge in an all-stock transaction. The deal is expected to close in the fourth quarter of 2023, although it is still subject to the usual closing requirements, which include receiving various governmental and regulatory clearances as well as the consent of Desktop Metal’s and Stratasys’ stockholders.
In accordance with its fiduciary duty and the terms of Stratasys’ merger agreement with Desktop Metal, the Stratasys Board of Directors will carefully examine the 3D Systems proposal while consulting with its independent financial and legal experts. The Desktop Metal merger agreement, which is still in effect, does not change the Stratasys Board’s unanimous approval, recommendation, or declaration of the advisability of the agreed transaction with Desktop Metal. The Stratasys Board has also not made any decisions regarding the 3D Systems proposal within the framework set forth by the Desktop Metal merger agreement.
Shareholders of Stratasys are not required to take any action in relation to the 3D Systems proposal at this time.
The partial tender offer by Nano Dimension Ltd. (Nasdaq: NNDM) (“Nano”) to buy ordinary shares of Stratasys for $18.00 per share in cash is NOT in the best interests of Stratasys shareholders, the company stated in a press release on May 30, 2023. This decision was made after consultation with independent financial and legal advisors. The Board unanimously advises shareholders to object to the offer and submit a notice of objection. Visit www.NextGenerationAM.com/NanoObjection for instructions on how to submit a Notice of Objection.
Meitar Law Offices and Wachtell, Lipton, Rosen & Katz are Stratasys’ legal counsel, and J.P. Morgan is the company’s only financial advisor.
Credits: Stratasys
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