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POTENTIAL DEAL DETAILS
| Stock | Stratasys Ltd. | Symbol | SSYS |
| Date Announced | 06/01/2023 | Source | Press Release |
| Type | Unsolicited Bid | Acquiring Company/Person | 3D Systems Corp. |
Stratasys (SSYS) announced that it has received an unsolicited non-binding indicative proposal from 3D Systems Corporation (DDD) to acquire Stratasys for $7.50 in cash and 1.2507 newly issued shares of common stock of 3D Systems per ordinary share of Stratasys.
Update(s):
June 2, 2023: 3D Systems (DDD) confirmed its submission of a proposal to combine with Stratasys (SSYS) in a cash and stock merger that would convert each Stratasys share into $7.50 in cash and 1.2507 newly issued shares of 3D Systems common stock.
June 20, 2023:
3D Systems (DDD) provided an update to its shareholders regarding its proposal to combine with Stratasys (SSYS) in a cash and stock merger that would convert each Stratasys share into $7.50 in cash and 1.2507 newly issued shares of 3D Systems common stock.
The combination would result in Stratasys shareholders owning approximately 40% of the combined company and receiving approximately $540 million in cash.
June 20, 2023: Stratasys (SSYS) responds that the buyout bid from 3D Systems (DDD) is not superior to its planned acquisition of Desktop Metal (DM).
June 27, 2023: 3D Systems (DDD) announced that it has submitted an enhanced proposal to the Board of Directors of Stratasys (SSYS) to combine the two companies in a cash and stock transaction that would convert each Stratasys ordinary share into $7.50 in cash and 1.3223 newly issued shares of 3D Systems common stock.
Under the terms of the revised offer, the combination would result in Stratasys shareholders owning approximately 41% of the combined company and receiving approximately $540 million in cash at the time of consummation of the transaction.
July 10, 2023: Nano Dimension increases special tender offer price for Stratasys (SSYS) shares to $24.00 per share in cash
July 13, 2023: 3D Systems (DDD) increased its cash and stock offer for Stratasys to $24.07 a share, according to a statement. The bid consists of $7.50 in cash, and Stratasys holders will now receive 1.5444 shares of 3D Systems. DDD said the implied value of the deal is $28 share, including $100 million in cost synergies
July 17, 2023: Stratasys Ltd. (SSYS) announced that its Board of Directors after consultation with its independent financial and legal advisors, unanimously determined that the revised partial tender offer announced by Nano Dimension Ltd. (NNDM) on July 10, 2023 to acquire ordinary shares of Stratasys for $24.00 per share in cash is misleading, coercive, substantially undervalues the company as a whole and is NOT in the best interests of all Stratasys shareholders.
To determine whether 3D Systems would ultimately make a “Superior Proposal”, Stratasys must first conduct proper due diligence on 3D Systems’ business and prospects. This includes examining 3D Systems’ forecast of $100 million of synergies and 3D Systems’ revenue growth and profitability. In addition, Stratasys also intends to negotiate terms with 3D Systems, subject to the requirements of the Desktop Metal merger agreement.
September 11, 2023: Stratasys (SSYS) has rejected the revised offer from 3D Systems (DDD).
According to a statement from 3D Systems, under 3D Systems (DDD) latest offer, each Stratasys (SSYS) shares will convert into $7 in cash and 46% of the aggregate shares of the combined company. 3D Systems mentioned the newest offer is worth more than $27 a share to Stratasys shareholders.
September 12, 2023: Stratasys Ltd. (SSYS) confirmed that the Stratasys Board of Directors received on September 6, 2023 a revised proposal from 3D Systems Corporation (DDD) to acquire Stratasys for $7.00 in cash and 1.6387 newly issued shares of 3D Systems common stock per ordinary share of Stratasys, representing a value of $15.26 per share for Stratasys, and a premium of only 3% to the unaffected closing stock price of Stratasys ordinary shares as of May 24, 2023. Accordingly, the Stratasys Board has terminated discussions with 3D Systems.
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.
September 29, 2023: 3D Systems (DDD) announced it is willing to add go-shop period in bid for Stratasys (SSYS).
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.