3D Systems sweetens its offer for Stratasys
3D Systems upped its offer to acquire Stratasys on Tuesday, in response to a competing merger proposal from Desktop Metal.
Stratasys Inc.
27 June 2023 12:56:31
Source: Sharecast
The 3D printing company said it was now proposing a deal involving $7.50 in cash and 1.3223 newly-issued shares of its stock for each share of Stratasys.
Its previous offer entailed the same cash consideration, but only 1.2507 newly issued shares of stock.
According to 3D Systems, if the revised offer was accepted, Stratasys shareholders would own about 41% of the combined company.
Additionally, on completion, those shareholders would receive about $540m in cash.
Stratasys, on the other hand, previously said that the prior takeover offer from 3D Systems did not surpass an all-stock merger agreement it had already agreed with Desktop Metal.
At 0749 EDT (1249 BST), shares in Stratasys were up 3.51% in pre-market trading at $16.80, while those in 3D Systems were 0.77% firmer at $9.17.
Reporting by Josh White for Sharecast.com.