Following revised offers from both Nano Dimension and 3D Systems, the Stratasys Board of Directors has issued statements rejecting both proposals.
On June 30, it was announced that after consulting with its independent financial and legal advisors, the Stratasys Board of Directors unanimously determined that the revised partial tender offer by Nano Dimension Ltd. made on June 27th “substantially undervalues the company”. As a result, the board is reportedly recommending that shareholders reject the revised offer and deliver a Notice of Objection against the offer.
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Stratasys has also rejected the offer from 3D Systems that was also presented on June 27th, following the rejection of their original proposal submitted on May 30th. This rejection was reportedly made on the basis that Stratasys believes it to “materially undervalue Stratasys [and…] not constitute a ‘superior proposal’ and […] not provide a basis upon which to enter into discussions with 3D Systems, pursuant to the terms of the merger agreement with Desktop Metal, Inc.”