Polymer 3D printing solutions provider Stratasys Ltd. (NASDAQ: SSYS), on April 4, 2023, received a revised takeover offer from Nano Dimension Ltd. (NASDAQ: NNDM) of $20.05 per share in cash.
Under the terms of the new proposal, Nano Dimension would acquire the remaining shares of Stratasys it does not currently own for an aggregate of approximately $1.22 billion.
The offer price of $20.05 represents a premium of 41% to the closing trading price of Stratasys as of March 3, 2023, the last trading day, after which Stratasys received the first takeover proposal from Nano Dimension.
It also represents an increase of 11.4% per share as compared to its March 6, 2023, proposal. The offer price is also higher by 3% compared to its March 29, 2023, offer price.
The latest offer represents an improvement over an initial $19.55 per share proposal submitted by Nano Dimension on April 3, which was unanimously rejected by the board as it undervalued the Company and its shareholders.
The Stratasys Board of Directors will review and evaluate the proposal to determine the course of action it believes is in the best interests of the Company and its shareholders.
Also Read: Stratasys Bags Multi-System Deal From German Manufacturer For H350 3D Printers
Price Action: SSYS shares traded lower by 2.41% at $15.99 on the last check Tuesday.
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This article Stratasys Bags New Takeover Offer From Nano Dimension At 41% Premium originally appeared on Benzinga.com
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Source: https://finance.yahoo.com/news/stratasys-bags-takeover-offer-nano-193243263.html