Stratasys Ltd. SSYS said Wednesday its board has again rejected a sweetened offer from Nano Dimension Ltd. NNDM put out on Tuesday, saying it continues to “significantly undervalue” the company and urging shareholders to reject it. Nano Dimension raised its offer to $25 a share in cash, from $24 previously as it seeks to acquire between 31.9% and 36.9% of the company’s shares. The pair have been locked in a three-way battle with 3D Systems Corp. DDD which is also trying to acquire Stratasys, a maker of 3-D printers, since May. The board cautioned shareholders that if they offer shares into the tender, they may have as few as 40% of their shares purchased, and risk becoming minority shareholders in a Nano-controlled company. Stratasys’s stock was up 1% premarket and has gained 80% in the year to date amid the battle for control, while the S&P 500 SPX has gained 18.6%.
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
0
0
