Shares of 3-D printing solutions provider Stratasys (NASDAQ:SSYS) are rising upwards today after Nano Dimension (NASDAQ:NNDM) took its offer for the company higher to $19.55 per share.
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Stratasys had rejected Nano Dimension’s earlier $18 per share offer pointing out that it undervalued the company. The latter already owns over 14% stake in Stratasys.
Under the new offer, NNDM would acquire the remaining shares of the company at a 37% premium over the stock’s March 3 closing price and urged the SSYS board to do away with the ‘poison pill’. The deal offers a market consolidation opportunity and a combined entity could realize operational and organizational synergies as well.
Overall, Wall Street has a $17.75 consensus price target on SSYS pointing to a 25.8% potential upside in the stock.
SSYS shares are already up over 10% in the pre-market session today and the next course of action taken by the company remains a key event to keep an eye on.
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