2023-07-14 17:03:02 ET
Donerail Group said on Friday that it had delivered a letter to Stratasys ( NASDAQ: SSYS ), noting that 3D Systems' ( DDD ) acquisition proposal was superior to Stratasys' merger agreement with Desktop Metal ( DM ).
3D Systems shares rose nearly 1% in extended trading.
Donerail has beneficial ownership of about 2.3% of Stratasys' outstanding shares.
The activist investment firm said that it was encouraged by 3D Systems' latest offer to Stratasys. On Thursday, 3D Systems increased its cash and stock offer for Stratasys to $24.07/share.
Donerail said it supported Nano Dimension's ( NNDM ) proposal to potentially combine Stratasys with 3D Systems.
"Expects Stratasys board to quickly deem 3D Systems offer superior to Desktop Metal transaction," said Donerail in a statement.
For further details see:
Investment firm Donerail expects Stratasys to view 3D Systems offer as superior