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SSYS Stock Alert: Stratasys Rejects Nano Dimension’s Takeover Offer


  • Stratasys (SSYS) stock is moving after rejecting a takeover offer.
  • That came from Nano Dimension (NNDM), which already holds a 14.5% stake in the company.
  • It offered to buy the remaining stake of SSYS stock for $18 per share in cash.
SSYS Stock - SSYS Stock Alert: Stratasys Rejects Nano Dimension’s Takeover Offer

Source: Lutsenko_Oleksandr / Shutterstock.com

Stratasys (NASDAQ:SSYS) stock is on the move Wednesday after the company rejected a takeover offer from Nano Dimension (NASDAQ:NNDM).

That takeover offer had Nano Dimension offering $1.1 billion to acquire the remaining stake in SSYS that it doesn’t already own. For the record, the company has a 14.5% stake in the Israeli 3D printing company.

The offer for SSYS stock valued the company’s shares at $18 each. The payment would also have been made with cash. Stratasys isn’t interested in the deal as it claims the offer undervalues its business.

It’s worth pointing out that this isn’t the first conflict between Stratasys and Nano Dimension. Back in July 2021, Stratasys adopted a poison pill strategy after Nano Dimension acquired a 12.12% stake in the company.

SSYS Comments on Takeover Bid

Here’s what the company said about rejecting the takeover offer in a recent news release:

“Stratasys’ 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.”

SSYS stock is up 2.6% on Wednesday morning after rejecting the takeover offer.

Investors looking for more of the latest stock market news are in the right place!

We’ve got all of the hottest stock market news traders need to know about on Wednesday! That includes why shares of GameStop (NYSE:GME), Luminar (NASDAQ:LAZR), and 89bio (NASDAQ:ETNB) stock moving today. You can catch up on all of this news at the links below!

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On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.

Article printed from InvestorPlace Media, https://investorplace.com/2023/03/ssys-stock-alert-stratasys-rejects-nano-dimensions-takeover-offer/.

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