Stratasys Rejects Revised Acquisition Proposal From Nano Dimension: SSYS Stock Up In Pre-market

(RTTNews) - Stratasys inc. (SSYS), a polymer 3D printing solutions provider, said on Thursday that it has rejected the revised unsolicited proposal from Nano Dimension Ltd. (NNDM) on April 3, to acquire Stratasys for $20.05 per share in cash.

Following the news, SSYS is trading up by 3.26 percent in pre-market at $15.50 per share on the Nasdaq.

The company noted that the proposal continues to substantially undervalue Stratasys in light of its standalone prospects and is not in the best interests of the company and its shareholders.

"In addition, the general composition and legitimacy of Nano's board and management, and authority to submit and follow through on a bona fide acquisition proposal, remain unclear due to Nano's pending court litigation with its largest shareholder, Murchinson Ltd.," Stratasys stated.