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Stratasys, Ltd (NASDAQ: SSYS) stock is trading higher Thursday following Nano Dimension Ltd’s (NASDAQ: NNDM) unsolicited special tender offer to acquire between 53% and 55% ownership of Stratasys.
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Nano Dimension proposed to acquire between 53% – 55% ownership of Stratasys for $18.00 per share in cash.
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Nano Dimension’s all-cash special tender offer represents a premium of 26% to Stratasys’ closing price of $14.26 as of March 3, 2023.
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Nano Dimension has been trying to woo Stratasys since at least March 2023.
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Earlier today, Stratasys agreed to merge with Desktop Metal, Inc (NYSE: DM) in an all-stock transaction valued at approximately $1.8 billion.
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Desktop Metal stockholders will receive 0.123 ordinary shares of Stratasys for each share of Desktop Metal Class A common stock.
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The purchase consideration implies a premium of 7.4% to Desktop Metal’s May 24 closing of $1.75.
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The combined company will likely generate approximately $50 million in additional annual run-rate cost synergies by 2025, targeting 10%-12% adjusted EBITDA margins in 2025.
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Stratasys shareholders will own approximately 59% of the combined company, and legacy Desktop Metal stockholders will hold about 41%.
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Price Action: SSYS shares traded higher by 3.16% at $15.35 on the last check Thursday.
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This article What’s Going On With Stratasys Stock Today originally appeared on Benzinga.com
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