Stratasys (SSYS) confirmed that the Stratasys board of directors received on September 6 a revised proposal from 3D Systems (DDD) to acquire Stratasys for $7.00 in cash and 1.6387 newly issued shares of 3D Systems common stock per ordinary share of Stratasys, representing a value of $15.26 per share for Stratasys, and a premium of “only” 3% to the unaffected closing stock price of Stratasys ordinary shares as of May 24. “After consultation with its outside financial and legal advisors, and following an extensive due diligence review of 3D Systems, the Stratasys Board unanimously determined that the revised proposal from 3D Systems continues to significantly undervalue Stratasys and does not constitute a ‘Superior Proposal’ as defined in Stratasys’ merger agreement with Desktop Metal (DM). Accordingly, the Stratasys Board has terminated discussions with 3D Systems. The Stratasys Board reaffirms its unanimous support of the pending combination with Desktop Metal,” the company announced.
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