Business
Stratasys Confirms Receipt of Revised Unsolicited Acquisition Proposal From Nano Dimension
Advises Shareholders to Take No Action at This Time MINNEAPOLIS & REHOVOT, Israel--(BUSINESS WIRE)-- Stratasys Ltd. (Nasdaq: SSYS) (the “Company”), a leader
About this update from Stratasys, Ltd.
[{"type":"text","content":"\nAdvises Shareholders to Take No Action at This Time\n\n\n MINNEAPOLIS & REHOVOT, Israel--(BUSINESS WIRE)--\nStratasys Ltd. (Nasdaq: SSYS) (the “Company”), a leader in polymer 3D printing solutions, today confirmed that it received a revised unsolicited non-binding indicative proposal from Nano Dimension Ltd. (Nasdaq: NNDM) (“Nano”) on April 3, 2023 to acquire Stratasys for $20.05 per share in cash.\n\n\nConsistent with its fiduciary duties, and in consultation with its independent financial and legal advisors, the Stratasys Board of Directors will carefully review and evaluate the proposal to determine the course of action that it believes is in the best interests of the Company and Stratasys shareholders.\n\n\nAs previously announced on April 3, 2023, the Stratasys Board unanimously rejected Nano’s previous unsolicited non-binding indicative proposal to acquire Stratasys for $19.55 per share in cash. This revised proposal followed Nano’s initial unsolicited non-binding indicative proposal to acquire Stratasys for $18.00 per share in cash, which the Stratasys Board unanimously rejected on March 22, 2023. The Stratasys Board carefully reviewed and evaluated each proposal, and concluded that each substantially undervalued the Company in light of its standalone prospects and was not in the best interests of Stratasys and its shareholders.\n\n\nStratasys shareholders do not need to take any action at this time.\n\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\n\nAbout Stratasys\n\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\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, includi...