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InsideArbitrage Potential Deal Alert: Nano Dimension (NNDM) Offers to Acquire Stratasys (SSYS) for $18.00 Per Share

  • March 9, 2023

POTENTIAL DEAL DETAILS

StockStratasys Ltd.SymbolSSYS
Date Announced03/09/2023Source Press Release
TypeUnsolicited BidAcquiring Company/Person Nano Dimension

Nano Dimension (NNDM), a leading supplier of Additively Manufactured Electronics and multi-dimensional polymer, metal & ceramic Additive Manufacturing 3D printers, announced that it has made a formal, non-binding offer to acquire Stratasys (SSYS) for $18.00 per share in cash.

Update(s):

March 9, 2023: Stratasys confirms receipt of unsolicited acquisition proposal from Nano Dimension.

March 22, 2023: Stratasys (SSYS) announced that its Board of Directors has unanimously rejected the unsolicited proposal it received from Nano Dimension (NNDM) to acquire Stratasys for $18.00 per share in cash.

March 29, 2023: Stratasys Ltd. (SSYS) confirmed that it has received a revised unsolicited non-binding indicative proposal from Nano Dimension Ltd. (NNDM) to acquire Stratasys for $19.55 per share in cash.

April 3, 2023: Stratasys Ltd. (SSYS) announced that its Board of Directors has unanimously rejected the revised unsolicited proposal received from Nano Dimension Ltd. (NNDM) on March 29, 2023 to acquire Stratasys for $19.55 per share in cash.

April 3, 2023: Nano Dimension (NNDM), announced that it has further increased its offer to acquire Stratasys Ltd. (SSYS) for $20.05 per share in cash.

April 13, 2023: Stratasys Ltd. (SSYS) announced that its Board of Directors has unanimously rejected the revised unsolicited proposal received from Nano Dimension Ltd. (NNDM) on April 3, 2023, to acquire Stratasys for $20.05 per share in cash.

May 30, 2023:  The Stratasys Board (SSYS) concluded that Nano’s proposals substantially undervalue Stratasys and are NOT in the best interests of the Company and our shareholders.

July 18, 2023: Nano Dimension (NNDM) increases its proposed price to $25.00 per share in cash in its special tender offer price for Stratasys shares.

September 14, 2023: Nano Dimension (NNDM) and 3D printers announced that it opposes and intends to vote against Stratasys (SSYS) proposed merger with Desktop Metal and urges fellow Stratasys shareholders to join in casting votes against the transaction at the company’s Extraordinary General Meeting of Shareholders to be held on September 28, 2023.

Nano Dimension is Stratasys’ largest shareholder and owns approximately 14.1% of Stratasys’ outstanding ordinary shares.

December 21, 2023: Stratasys said it adopted a limited shareholder rights plan as the 3D printer company’s current plan is set to expire at the end of the year.

December 23, 2023: Nano Dimension (NNDM) announces preliminary all cash proposal to acquire Stratasys (SSYS) for $16.50 per share.

Disclaimer: Our intent with this section of the website is to present potential deals that appear to be in the pipeline. These potential deals are ones where i) the company has indicated that it is "seeking strategic alternatives", ii) there has been an unsolicited bid for a company as mentioned in a press release by the company or iii) news about the deal has been published by a leading news organization like The Wall Street Journal, The New York Times, Bloomberg, Financial Times, The Washington Post, Reuters and The Associated Press. As best as possible we will try to avoid baseless rumors. There is a high probability that many of these potential deals may not materialize and if they do, the terms of the deal may be different from what was initially reported. Please do your own due diligence before buying or selling any securities mentioned on this website. We do not warrant the completeness or accuracy of the content or data provided.