Competing Buyout Bids for Stratasys

Stratasys, a leader in the 3D printing industry, is currently exploring two competing buyout bids from Nano Dimension and 3D Systems.

Nano Dimension has increased its offer to purchase Stratasys to $20.05 per share, up from its previous offer of $18 per share. The company has also extended its offer period until July 24th and is seeking between 31.9% and 36.9% of outstanding Stratasys shares. This move comes after 3D Systems increased the amount of its own stock it would offer to Stratasys shareholders in a takeover bid. If this bid is accepted, Stratasys shareholders would own about 41% of the combined company and receive approximately $540 million in cash when the deal closes.

Both of these offers are attempts to pull Stratasys out of an all-stock merger agreement it reached with Desktop Metal, which is set to close in the fourth quarter. Stratasys stated that while they have not changed their unanimous approval and recommendation of the Desktop Metal deal, they are reviewing the two new offers. Shareholders can expect an update on Stratasys’ position on the Nano bid within 10 business days.

Currently, shares of Stratasys and 3D Systems are up by more than 7% in midday trading, while shares of Nano Dimension are up by 1.3%. Meanwhile, Desktop Metal shares have fallen slightly.

It remains to be seen which, if either, of these new offers Stratasys will choose to accept.

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