Stratasys determines revised proposal from 3D Systems not superior

Stratasys (SSYS) announced that its board of directors, after careful review and consultation with its independent financial and legal advisors, has unanimously determined that the June 27 revised unsolicited non-binding proposal from 3D Systems (DDD) to acquire Stratasys, representing an approximate 3% increase in total value, adding 1% to the total ownership for Stratasys shareholders, is opportunistic, continues to materially undervalue Stratasys, does not constitute a “Superior Proposal” and does not provide a basis upon which to enter into discussions with 3D Systems, pursuant to the terms of the merger agreement with Desktop Metal (DM). On May 25, Stratasys entered into a merger agreement with Desktop Metal, pursuant to which Desktop Metal agreed to combine with Stratasys in an all-stock transaction. The Stratasys Board has not changed its unanimous approval, recommendation and declaration of advisability of the previously announced transaction with Desktop Metal.