Global additive manufacturing company Nano Dimension recently made a formal, non-binding offer to buy American-Israeli manufacturer Stratasys for USD 18.00 per share in cash.
Under the proposal, Nano Dimension plans to purchase the remaining shares of Stratasys for a total of approximately $1.1 billion in cash.
The price includes a premium of 36 per cent to the unaffected closing trading price as of 1 March 2023 and a 31 per cent premium to the 60-day VWAP through 1 March.
The company said its proposal seeks to deliver an immediate and certain value to Stratasys’ shareholders and strengthen Stratasys’ ability to capitalise on opportunities and navigate the challenges of the current environment.
Nano Dimension said the proposed acquisition would create a market leader with an unparalleled portfolio of materials, software, and deep learning with a go-to-market strength in the form of sales channels.
In a June 2022 announcement, the company said it views Stratasys as a strategic, complementary asset in the relatively mature polymer-based AM market segment.
Meanwhile, Nano Dimension is a pioneer in the high-growth segments of 3D printing for electronics, microfabrication and high-performance components.
The two companies’ combined research and development capabilities are expected to drive rapid innovation to meet customer needs in the area of 3D printing.
Nano Dimension is currently the largest shareholder in Stratasys in July 2022 and currently owns approximately 14.5 per cent of Stratasys’ outstanding shares.
“Bringing Stratasys and Nano Dimension together is about positioning both companies to succeed as a combined company and lead the industry into that next phase,” said Yoav Stern, chairman and CEO of Nano Dimension.
“With Nano Dimension’s strong culture of innovation and track record of successful merger integration, we expect to unlock significant value for all stakeholders. We look forward to continuing our discussions with Stratasys to reach a mutually acceptable transaction,” Stern said.
