2023-03-29 14:36:13 ET
Shares of 3D-printer company Stratasys (NASDAQ: SSYS) traded higher on Wednesday after the company received a new buyout offer from Nano Dimension (NASDAQ: NNDM) . As of 1:10 p.m. ET today, the stock was up almost 13%. For its part, Nano Dimension stock was flat.
Nano Dimension is offering to buy Stratasys for $19.55 per share, representing a 38% premium to where the stock traded before the market opened this morning. At the risk of oversimplifying his arguments, Nano CEO Yoav Stern says he believes Stratasys has good assets, but that its management isn't headed in the best direction to address the future of the 3D printing industry . Naturally, he believes Nano Dimension is.
Nano already owns 13.7% of Stratasys shares on a fully diluted basis. And it offered to buy Stratasys earlier this month for $18 per share. Stratasys' management responded by unanimously rejecting the offer as "substantially" undervaluing the company.
For further details see:
Here's Why Stratasys Stock Traded Higher Today