Stratasys announced on Monday that it will review the buyout offer from 3D Systems to determine if it is a better deal than the previously agreed merger with Desktop Metal.
Earlier in the day, Stratasys stated that its board had unanimously deemed 3D Systems’ offer to acquire the company for $7.50 in cash and 1.5444 newly issued shares of 3D Systems stock per share of Stratasys as a potentially superior proposal. However, the company clarified later on that it still needs to conduct proper due diligence on 3D Systems’ business before making a final decision. Stratasys also confirmed its intention to enter into negotiations with 3D Systems, as stipulated in its agreement with Desktop Metal.
Meanwhile, 3D Systems expressed confidence that the merger would be finalized by the end of the week. A fierce bidding war between 3D Systems and Nano Dimension has been ongoing, both vying to outshine the deal with Desktop Metal.
As part of its offer, 3D Systems has agreed to cover the termination fee associated with ending the Desktop Metal agreement.
Until Stratasys determines if the offer is indeed superior according to the terms of the Desktop Metal deal, the company is still bound by the initial agreement. Stratasys also continues to advise its shareholders to reject Nano Dimension’s tender offer.
In after-hours trading, Stratasys shares saw a 1.2% increase, reaching $21.10.
