Stratasys stock surges after 3D Systems' raised bid seen as 'superior,' and as Nano Dimension's bid was rejected
Shares of Stratasys Ltd. (SSYS) rallied 5.8% toward a 15-month high in premarket trading Monday, after the 3D printer maker said it has determined that the recently raised cash-and-stock buyout bid from 3D Systems Corp. (DDD) is likely a "superior proposal" as defined by its merger agreement with Desktop Metal Inc. (DM) Stratasys said it will "engage in discussions" with 3D Systems regarding its unsolicited bid. Separately, Stratasys said it "unanimously rejects" the latest unsolicited cash partial tender offer from Nano Dimension Ltd. (NNDM), saying it was "misleading, coercive and substantially undervalues the company." 3D Systems' stock rose 1.2% in the premarket, while Nano Dimension shares edged up 0.3% and Desktop Metal shares were still untraded. Meanwhile, futures for the S&P 500 slipped 0.1%.
-Tomi Kilgore
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07-17-23 0616ET
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