3D Systems Makes Bid for Market-Leader Stratasys

On June 1st, 3D-printer leader Stratasys announced that it received an unsolicited non-binding acquisition proposal from 3D Systems to acquire Stratasys. The offer is for $7.50 per share in cash and 1.2507 newly issued shares of 3D Systems common stock per ordinary share of Stratasys.

Stratasys, which is headquartered in Isreal, is generally considered to be the leader in the industrial 3D-printer market. According to Investopedia, it  has a market cap of $818.8 million. It had 2022 net revenue of $651.5 million, up 7.3 percent year-over-year, but a net loss of $29.0 million.

Stratasys also noted that on May 25, 2023, it entered into a merger agreement with Desktop Metal, under which Stratasys and Desktop Metal will combine in an all-stock transaction, which is expected to be completed in fourth-quarter 2023.

3D Systems Proposal

The company says its board of directors will carefully review the 3D Systems proposal, in accordance with its obligations under Stratasys’ merger agreement with Desktop Metal.

Rejects Nano Dimension Proposal

Stratasys also noted that on May 30th, its board unanimously determined that the partial acquisition offer by Nano Dimension to acquire ordinary shares of Stratasys for $18.00 per share in cash “substantially undervalues the company and is NOT in the best interests of Stratasys shareholders.”

The board unanimously recommends that shareholders reject the offer and deliver a Notice of Objection against the offer.