Stratasys To Explore Strategic Alternatives After Deal Fallout With Desktop Metal

(RTTNews) - Stratasys Ltd. (SSYS), a polymer 3D printing solutions company, said on Thursday that it is exploring strategic alternatives to maximize shareholder value.

This decision comes after the fallout from the merger agreement with computer hardware company Desktop Metal, Inc. (DM) where Stratasys shareholders did not approve the merger.

Consequently, the company terminated the merger agreement.

Additionally, the company has amended the shareholder rights plan where the expiration date of the rights plan has been extended for three months.

"The Rights Plan is not intended to prevent or interfere with any action with respect to Stratasys that the Board determines to be in the best interests of the Company and its shareholders. Instead, it will support the Board's ability to carry out its strategic review process and position the Board to fulfill its fiduciary duties on behalf of all shareholders," the company said in a statement.

Currently, shares of Stratasys are trading at $13.31, up 8.69% on Nasdaq and shares of Desktop Metal are trading at $1.38, down 1.77% on the New York Stock Exchange.