Shares of Stratasys (NASDAQ: SSYS) rallied in pre-market trading at the time of publishing on Friday after the manufacturer of 3D printers and software announced that it had received an unsolicited non-binding indicative proposal from 3D Systems Corp. (DDD) to acquire Stratasys for $7.50 in cash and 1.2507 newly issued shares of common stock of 3D Systems per ordinary share of SSYS.
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The company stated that “Stratasys shareholders do not need to take any action at this time with respect to the 3D Systems proposal.”
The 3D printing battle has heated up with this unsolicited proposal from DDD just after Stratasys rejected Nano Dimesnsion’s latest partial tender offer to acquire ordinary shares of Stratasys for $18.00 per share in cash. Nano Dimension made this offer following Stratasys’ acquisition of Desktop Metal (DM).
Analysts are bullish about SSYS stock with a Strong Buy consensus rating based on six Buys and two Holds.