Someone wants to get their hands on Stratasys (NASDAQ:SSYS), and they want it bad. So bad, in fact, that they’re willing to pay a hefty premium to lay hands on it, and they even hiked the tender offer already made for Stratasys. The latest hike in the offer was sufficient to send the 3D printing stock’s share price into the stratosphere in Monday afternoon’s trading. As it turns out, it’s Nano Dimension (NASDAQ:NNDM) that’s got such a hefty interest in Stratasys.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 55% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Nano Dimension already made one offer for Stratasys and was willing to drop $20.05 per share for Stratasys stock only recently. That offer wasn’t good enough for Stratasys, so Nano Dimension went back to the drawing board and its checkbook. Now, Nano Dimension is willing to drop $24 per share. With Stratasys shares selling for $18.87 during Monday afternoon’s trading, that’s enough to show the kind of premium that Nano Dimension is willing to put in. Nano Dimension’s newest offer expires on July 24.
The interesting part, though, is that Nano Dimension isn’t the only one who wants in on the Stratasys project. Stratasys also got unsolicited merger offers from 3D Systems (NYSE:DDD), which was willing to put up $1.2 billion as of June 1. After Stratasys rejected that offer, 3D Systems hiked it to $1.32 billion. That’s quite a bit of cash and stock being thrown around in both directions and with good reason. A Star Tribune report noted that the 3D printer market could have a compound annual growth rate of between 21% and 23% over just the next five years.
A look at the past five trading days for SSYS stock highlights the level of impact today’s news had on it. Indeed, shares jumped over 8% at the time of writing. As a result, investors are now up 10.07% during this timeframe.