The never-ending saga between Stratasys (NASDAQ: SSYS) and Nano Dimension (NNDM) continued on Tuesday after Stratasys rejected Nano Dimesnion’s partial tender offer to acquire ordinary shares of Stratasys for $18.00 per share in cash as it believes that this offer “substantially undervalues the Company and is NOT in the best interests of Stratasys shareholders. Accordingly, the Board unanimously recommends that shareholders reject the offer and deliver a Notice of Objection against the offer.“
Nano Dimension made this offer following Stratasys’ acquisition of Desktop Metal (DM). Stratasys stated that NNDM’s “partial offer is inadequate and substantially undervalues Stratasys’ industry-leading position and growth opportunities, which are even larger in light of the pending merger with Desktop Metal.”
Overall, analysts remain bullish about SSYS stock with a Strong Buy consensus rating based on six Buys and two Holds.
