NNDM - Stratasys says waiting for due diligence from 3D Systems to make decision on offer

2023-07-28 11:45:42 ET

Stratasys ( NASDAQ: SSYS ) said it's still waiting to get "critical" due diligence from 3D Systems ( NYSE: DDD ) so its board can decide if DDD's bid is superior to its announced deal with Desktop Metal ( NYSE: DM ).

The Stratasys ( SSYS ) statement comes after 3D Systems ( DDD ) said on Thursday that it is targeting Aug. 4 to complete its due diligence on its $24 per share offer for Stratasys, which it described as "best and final."

"Despite the implication in 3D Systems’ press release that they have engaged cooperatively, we are still waiting for all this information from 3D Systems," Stratasys said in the statement on Friday.

Once 3D Systems ( DDD ) provides the requested due diligence, Stratasys ( SSYS ) expects to be in a position to decide on DDD's July 13 offer.

Earlier Friday, Nano Dimension ( NASDAQ: NNDM ) withdrew its $25 per share special tender offer for Stratasys ( SSYS ) after several rejections from the 3D printer maker.  Nano Dimension also withdrew its director nominees for the Stratasys board.

More on Stratasys, 3D Systems

• Stratasys: Belle Of The Ball
• 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

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