Shares of Stratasys (NASDAQ: SSYS) were on an upswing in pre-market trading on Tuesday as the saga of Nano Dimension (NNDM) chasing the American-Israeli manufacturer of 3D printers, software, and materials for polymer additive manufacturing continued. Nano Dimension upped its revised offer to $20.05 per share in cash on Monday from its prior offer of $19.55 per share.
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This news came even as Stratasys rejected Nano Dimesnion’s earlier offer of $19.55 per share. According to NNDM’s revised proposal, the company would acquire all “the remaining shares of Stratasys it does not currently own for an aggregate of approximately $1.22 billion on a fully diluted basis.” Nano Dimension’s revised proposal indicates a premium of 41% to the closing trading price as of March 3rd and a 44% premium to the Company’s 30-day Volume Weighted Average Price (VWAP).
Yoav Stern, Chairman and CEO of Nano Dimension commented, “Today we present our best and final all-cash offer to Stratasys’ Board of Directors, which will deliver immediate and certain value to Stratasys shareholders at a compelling premium and enable us to create the preeminent leader in the rapidly growing AM market.”
Analysts are bullish about SSYS stock with a Strong Buy consensus rating based on five Buys and one Hold.
