Nano Dimension Offers to Buy Stratasys in $1.1 Billion Deal


(Bloomberg) — Nano Dimension Ltd. of Israel offered to buy Stratasys Ltd. in a cash deal that values the company at about $1.1 billion, the latest maneuvering in months of attempted dealmaking in the 3D printer industry.

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Nano, already the largest stockholder of Stratasys with a 14% stake, offered to buy the remaining shares for $16.50 each, according to a statement Saturday. The price is 26% above where Eden Prairie, Minnesota-based Stratasys closed on Friday.

The board of Stratasys unanimously rejected Nano Dimension’s $25-per-share partial tender offer in July. Stratasys in September also rejected a revised takeover offer from 3D Systems Corp. Stratasys then said Sept. 28 that shareholders had failed to approve its planned acquisition of Desktop Metal Inc., and the company would begin a review of strategic alternatives.

Read more: 3D Systems Bumps Offer for Stratasys to $24 a Share

Despite Nano’s prior attempts to acquire Stratasys and its position as the largest shareholder, the company said it hasn’t been approached by Stratasys or its representatives during the review. That’s why it’s gone public with its offer, Nano said.

Stratasys didn’t immediately respond to a request for comment outside of regular business hours.

Stratasys on Thursday said it had adopted a shareholder rights plan or so-called poison pill that would give the board time to assess potential takeover offers.

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