BBIG - SSYS Stock Alert: Stratasys Receives Acquisition Proposal From Nano Dimension
2023-03-10 10:19:45 ET
InvestorPlace - Stock Market News, Stock Advice & Trading Tips
Stratasys (NASDAQ: SSYS ) stock is on the rise Friday after the company received an acquisition offer from Nano Dimension (NASDAQ: NNDM ).
That offer was unsolicited and is non-binding. It has Nano Dimension seeking to acquire shares of SSYS stock for a price of $18 each. That represents a roughly 28.5% premium over the stock’s closing price on Thursday.
According to Stratasys, its board of directors is going over the offering from Nano Dimension. There’s no guarantee that the company will accept the offer. It also notes that shareholders don’t need to take any actions at this time.
Investors will note that Nano Dimension is already the largest shareholder of SSYS stock and has been since July 2022. The company currently holds a 14.5% stake in Stratasys . Its offer would see it acquire the remaining shares of SSYS for $1.1 billion in cash.
Yoav Stern, chairman and CEO of Nano Dimension, said the following about the offer:
‘We have great respect for Stratasys’ business, including Chief Executive Officer, Dr. Yoav Zeif, who we believe is the architect of Stratasys’ recent positive momentum. Together, Nano Dimension and Stratasys can offer an increasingly exciting set of solutions for customers while becoming better positioned to compete in the AME and AM industries.”
How This Affects SSYS Stock
Shares of SSYS stock are seeing heavy trading as today’s news sends them higher. As of this writing, over 555,000 shares of the stock have changed hands. That’s above the company’s daily average trading volume of about 450,000 shares. It also has SSYS stock gaining 11.4% as of Friday morning.
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On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines .
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