Business
Stratasys Board of Directors Unanimously Rejects Unsolicited Proposal from Nano Dimension
Proposal Substantially Undervalues Stratasys in Light of the Company's Standalone Prospects and Is Not in the Best Interests of Stratasys Shareholders
About this update from Stratasys, Ltd.
[{"type":"text","content":"\nProposal Substantially Undervalues Stratasys in Light of the Company's Standalone Prospects and Is Not in the Best Interests of Stratasys Shareholders\n\n MINNEAPOLIS & REHOVOT, Israel--(BUSINESS WIRE)--\nStratasys Ltd. (Nasdaq: SSYS) (the “Company”), a leader in polymer 3D printing solutions, today announced that its Board of Directors has unanimously rejected the unsolicited proposal it received from Nano Dimension Ltd. (Nasdaq: NNDM) (“Nano”) to acquire Stratasys for $18.00 per share in cash.\n\nConsistent with its fiduciary duties, and in consultation with its independent financial and legal advisors, the Stratasys Board of Directors carefully reviewed and evaluated the proposal. Following the review, the Stratasys Board concluded that Nano’s proposal substantially undervalues the Company in light of its standalone prospects and is not in the best interests of Stratasys and its shareholders.\n\nStratasys’ Board and management team are confident that the Company’s standalone plan will create significantly greater value for its shareholders than the Nano proposal. Stratasys recently delivered its sixth consecutive quarter of profitability on an adjusted basis despite a challenging economic environment, and the Company remains laser focused on executing its strategy and managing its operations to effectively deliver sustained, profitable growth.\n\nJ.P. Morgan is acting as financial advisor to Stratasys, and Meitar Law Offices and Wachtell, Lipton, Rosen & Katz are serving as legal counsel.\n\nAbout Stratasys\n\nStratasys is leading the global shift to additive manufacturing with innovative 3D printing solutions for industries such as aerospace, automotive, consumer products, healthcare, fashion and education. Through smart and connected 3D printers, polymer materials, a software ecosystem, and parts on demand, Stratasys solutions deliver competitive advantages at every stage in the product value chain. The world’s leading organizations turn to Stratasys to transform product design, bring agility to manufacturing and supply chains, and improve patient care.\n\nTo learn more about Stratasys, visit www.stratasys.com, the Stratasys blog, Twitter, LinkedIn, or Facebook. Stratasys reserves the right to utilize any of the foregoing social media platforms, including the Company’s websites, to share material, non-public information p...