NNDM - Is Stratasys' Deal for Desktop Metal Bad News for Investors?
2023-06-08 06:18:00 ET
Something strange is stirring at Stratasys (NASDAQ: SSYS) -- and it's coming to a boil.
Roughly three months ago, its smaller competitor in the field of 3D printing , Nano Dimension (NASDAQ: NNDM) , made an offer to acquire the roughly 86% of Stratasys' shares that it did not already own, at $18 per share. Two weeks later, Stratasys' board of directors rejected this offer, prompting Nano to raise its bid -- first to $19.55 per share, then a week later to $20.05.
These offers were also rejected, so Nano launched a hostile takeover bid, presenting Stratasys' shareholders with the original offer of $18, hoping enough shares were tendered to give Nano a 53% controlling stake.
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Is Stratasys' Deal for Desktop Metal Bad News for Investors?