Stratasys stock jumps toward 11-month high after Nano Dimension raises buyout bid by 20%

Shares of Stratasys Ltd. (SSYS) surged 6.1% toward an 11-month high in morning trading Monday, after Nano Dimension Ltd. (NNDM) lifted its unsolicited buyout cash bid for the 3-D printer maker by 19.7%, to $24.00 a share from $20.05 a share. The new bid implies a 38.1% premium to Friday's closing price of $17.38. Nano Dimension said its tender offer expires on July 24 at 5 p.m. Eastern. The new bid comes after Stratasys said on June 30 that it would stick with its merger deal with Desktop Metal Inc. (DM), despite the takeover battle being waged by Nano Dimension and 3D Systems Corp. (DDD). Nano Dimension shares fell 0.9% in morning trading, while 3D Systems shares gained 1.1%, Desktop Metal's stock was little changed and the S&P 500 tacked on 0.2%.

-Tomi Kilgore

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07-10-23 0943ET

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