Stratasys Rejects Nano Dimension's Further Sweetened Offer

(RTTNews) - Stratasys Ltd. (SSYS), a company which deals in polymer 3D printing solutions, said on Wednesday that it is rejecting the revised tender offer of $25 per share in cash from Nano Dimension Ltd, an Israeli company that provides additive electronics including 3D printers, citing that the proposal undervalues the company.

Earlier this week Stratasys had rejected a $24-per-share offer from the same company, that was revised from $20.05.

The latest offer has a blended value of around $16 to $19 per share or less with Stratasys believing that Nano controlling the company's remaining shares is likely to lead them to trade at a heavily discounted level in the range of approximately $9 to $15 per share or less.

Stratasys Board urged its shareholders to reject the offer.

In pre-market activity, shares of Stratasys are trading at $21.53, up 1.08% or $0.23 on Nasdaq and Nano shares are trading at $3.14, down 0.63% or 0.02 cents.