Shares of Stratasys (NASDAQ: SSYS) were on an upswing in pre-market trading on Wednesday after the manufacturer of 3D printers and software’s Board of Directors unanimously rejected the unsolicited proposal from Nano Dimension (NASDAQ: NNDM) to acquire the company at $18 per share.
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The reason for rejecting the proposal was that the company’s Board of Directors believed that it undervalued Stratasys and was not in the best interests of its shareholders. Stratasys believes that “the Company’s standalone plan will create significantly greater value for its shareholders than the Nano proposal.”
Analysts are bullish about SSYS stock with a Strong Buy consensus rating based on four Buys and one Hold.