Stratasys again rejects sweetened partial tender offer from Nano Dimension as 'significantly' undervaluing company

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 has gained 18.6%.

-Ciara Linnane

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07-19-23 0706ET

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