News
John Smaug
- July 29, 2023
Nano Dimension has decided to withdraw its special tender offer to acquire a further stake in Stratasys. Currently owning 14.1% of the company, Nano Dimension had hoped to secure an additional 37%, but now believes the attempt is likely to fail. As a result, the offer will not be extended.
In light of this development, Nano Dimension has also withdrawn its nominees for the Stratasys board. The company plans to review its investment in Stratasys, including the possibility of selling its stake on the open market.
Meanwhile, Stratasys, which has consistently rejected Nano Dimension's efforts to gain a majority stake, has reached an agreement for an all-stock merger with Desktop Metal. However, it is also engaging in talks with 3D Systems regarding a potential acquisition. Stratasys considers 3D Systems' cash-and-stock offer to be potentially superior.
3D Systems has set a target date of August 4th for the completion of due diligence and deal discussions with Stratasys.
As a result of these developments, Stratasys' shares have experienced a decline in premarket trading, falling from $19.19 to $18.27.
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