Business
Stratasys Board of Directors Unanimously Determines Proposal from 3D Systems Does Not Constitute a Superior Proposal to Its Agreement with Desktop Metal
Concludes 3D Systems Proposal Does Not Provide a Basis Upon Which to Enter into Discussions with 3D Systems MINNEAPOLIS & REHOVOT, Israel--(BUSINESS WIRE)--
About this update from Stratasys, Ltd.
[{"type":"text","content":"\nConcludes 3D Systems Proposal Does Not Provide a Basis Upon Which to Enter into Discussions with 3D Systems\n\n\n MINNEAPOLIS & REHOVOT, Israel--(BUSINESS WIRE)--\nStratasys Ltd. (Nasdaq: SSYS) (“Stratasys” or the “Company”), a leader in polymer 3D printing solutions, today announced that its Board of Directors, after careful review and consultation with its independent financial and legal advisors, has unanimously determined that the May 30, 2023 unsolicited non-binding indicative proposal from 3D Systems Corporation (NYSE: DDD) (“3D Systems”) to acquire Stratasys does not constitute a “Superior Proposal” and does 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. (NYSE: DM) (“Desktop Metal”).\n\n\nOn May 25, 2023, Stratasys entered into a merger agreement with Desktop Metal, pursuant to which Desktop Metal agreed to combine with Stratasys in an all-stock transaction. The Stratasys Board has not changed its unanimous approval, recommendation and declaration of advisability of the previously announced transaction with Desktop Metal.\n\n\nConference Call, Investor Presentation and Q&A\n\n\nStratasys will host a pre-recorded audio webcast to discuss the details of 3D Systems’ proposal and the pending combination with Desktop Metal today at 10:30 A.M. ET.\n\n\nStratasys has posted an accompanying presentation and Q&A on the Investor Relations section of its website and at www.NextGenerationAM.com.\n\n\nThe investor conference call will be available via webcast on Stratasys’ investor relations website at investors.stratasys.com or directly at the following web address: https://event.choruscall.com/mediaframe/webcast.html?webcastid=5HNHD1jM. The webcast will be available for six months at investors.stratasys.com or by accessing the above-provided web address.\n\n\nTo participate by telephone, the U.S. toll-free number is 877-524-8416 and the international dial-in is +1 412-902-1028. Investors are advised to dial into the call at least ten minutes prior to the call to register.\n\n\nJ.P. Morgan is acting as exclusive financial advisor to Stratasys, and Meitar Law Offices and Wachtell, Lipton, Rosen & Katz are serving as legal counsel.\n\n\nAbout Stratasys\n\n\nStratasys is leading the global shift to additive manufacturing with innovative 3...