Stratasys to review 3D Systems' raised bid, but still unanimously approves Desktop Metal merger deal

Stratasys Ltd. (SSYS) confirmed Tuesday that it received a revised "unsolicited" buyout bid from 3D Systems Corp. (DDD), which effectively values the stock at a 20.4% premium to Monday's closing price. The 3D printer maker said it will "carefully review" the new bid, but at this point it has not changed its approval of its previously announced merger deal with Desktop Metal Inc. (DM), which is expected to be completed in the fourth quarter of 2023. "Stratasys shareholders do not need to take any action at this time with respect to the 3D Systems revised proposal," Stratasys said in a statement. Stratasys shares shot up 12.6% in premarket trading, which puts it on track to open at a 10-month high, while 3D's stock gained 1.7% and Desktop Metal shares shed 1.1%. Meanwhile, futures for the S&P 500 edged up 0.2%.

-Tomi Kilgore

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06-27-23 0855ET

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