SSYS - Stratasys rejects Nano Dimension's revised $25/shr partial tender

2023-07-19 07:21:16 ET

Stratasys ( NASDAQ: SSYS ) rejected Nano Dimension's ( NASDAQ: NNDM ) revised $25/share partial tender offer for the 3D printer maker.

Stratrasys said the offer is "misleading, illusory, continues to significantly undervalue the company as a whole, and is not in the best interests of all Stratasys shareholders," according to a statement.

Statratasys ( SSYS ) also highlighted that it believes the partial tender implies a blended value of about $16 to $19 per share or less, assuming full participation in the offer. Nano Dimennsion ( NNDM ) raised its latest offer to $25 from $24 after it was rejected.

The latest rejection comes after Stratasys ( SSYS ) said on Monday that it will begin to negotiate with 3D Systems ( NYSE: DDD ) after saying DDD's revised bid of $24 per share in cash and stock was reasonably expected to be deemed a "superior proposal" to its announced deal with Desktop Metal ( NYSE: DM ).

More on 3D Systems, Desktop Metal and Nano Dimension

• Investment firm Donerail expects Stratasys to view 3D Systems offer as superior
• Stratasys: Merger With Desktop Metal Is Worth More Than The Standalone Entities
• Nano Dimension: Interesting Asymmetric Risk/Reward Scenario
• Desktop Metal: High Ambitions Despite Macroeconomic Pressures
• 3D Systems: Poor Profitability On The Horizon, Hold

For further details see: