Stratasys confirms receipt of revised unsolicited proposal from 3D Systems

Stratasys Ltd. (SSYS) confirmed that it has received a revised unsolicited proposal from 3D Systems Corporation (DDD) to acquire Stratasys for $7.50 in cash and 1.5444 newly issued shares of 3D Systems common stock per ordinary share of Stratasys. The Stratasys Board of Directors will carefully review the revised 3D Systems proposal in consultation with its independent financial and legal advisors and in accordance with its duties under applicable law, and its obligations under Stratasys’ merger agreement with Desktop Metal (DM). The Stratasys Board has not changed its unanimous approval, recommendation and declaration of advisability of the previously announced transaction with Desktop Metal. The Desktop Metal transaction, which is expected to be completed in the fourth quarter of 2023, is subject to customary closing conditions, including the approval of Stratasys’ shareholders and Desktop Metal’s stockholders and the receipt of certain governmental and regulatory approvals. J.P. Morgan is acting as exclusive financial advisor to Stratasys, and Meitar Law Offices and Wachtell, Lipton, Rosen & Katz are serving as legal counsel.