Shares of Stratasys (NASDAQ: SSYS) declined in pre-market trading on Monday after the American-Israeli manufacturer of 3D printers, software, and materials for polymer additive manufacturing rejected the revised unsolicited proposal received from Nano Dimension Ltd. (NNDM) on March 29 to acquire Stratasys for $19.55 per share in cash.
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Stratasys stated that following “its review, the Stratasys Board concluded that Nano’s proposal continues to substantially undervalue Stratasys in light of its standalone prospects and is not in the best interests of Stratasys and its shareholders. The Stratasys Board and management team are confident that Stratasys’ standalone plan will create significantly greater value for its shareholders than the Nano proposal.”
Analysts remain bullish about SSYS stock with a Strong Buy consensus rating based on five Buys and one Hold.
