The 3D printing industry has been buzzing for weeks. At the center of the action is 3D printing company Stratasys. Desktop Metal and Stratasys announced a merger, while 3D Systems as well as Nano Dimension, other players in the 3D printing space, also want to merge with Stratasys.
Stratasys has now unanimously rejected Nano Dimension’s takeover bid, calling it “misleading, extortionate and undervalued.” Stratasys accuses Nano Dimension of destroying significant value and claims that Nano’s CEO, Yoav Stern, is untrustworthy and has made misrepresentations about Stratasys.
However, Stratasys has said it will consider 3D Systems’ counteroffer. “Stratasys intends to enter into discussions with 3D Systems regarding the revised proposal dated July 13, 2023, subject to the requirements of the merger agreement with Desktop Metal,” the company said. Jeffrey Graves, CEO of 3D Systems, welcomes the decision and emphasizes the benefits of a 3D Systems and Stratasys merger.
The takeover bids got rolling when Nano Dimension, which already owns 14.5% of Stratasys’ outstanding shares, announced a takeover attempt in March for about $1.1 billion. In May, Stratasys announced plans for a merger in which it would own 59% and Desktop Metal 41% of the combined company.
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