3D Systems again increases offer for Stratasys

For weeks, there has been a battle over a possible merger with 3D printer manufacturer Stratasys. While Stratasys is seeking a merger with the company Desktop Metal, the manufacturers Nano Dimension as well as 3D Systems are also trying to merge with Stratasys. In the past, each of these manufacturers have upped their game when it comes to Stratasys’ offerings. For example, we reported Nano Dimension’s bid just a few days ago. Now 3D Systems has presented a new binding offer to merge with Stratasys.

Under the terms, each Stratasys share will be converted into $7.50 in cash and 1.5444 shares of the merged company. This represents Stratasys shareholders owning a total of approximately 44% of the merged company’s stock, in addition to the total cash consideration offered of approximately $540 million.

3D Systems emphasizes that this new binding offer represents compelling value for Stratasys shareholders. The implied value per Stratasys share of $24.07, based on the closing price of 3D Systems stock on July 12, 2023, represents a 62% premium to the closing price of Stratasys stock on May 24, 2023. This was the last trading day before Stratasys announced its proposed transaction with Desktop Metal.

The implied value of approximately $28 per Stratasys share, or a premium of approximately 80%, including $100 million in identified and agreed-upon cost synergies, represents an improvement of ~15% over the 3D Systems proposal presented to the Stratasys board on May 30, 2023.