- Stratasys, Ltd (NASDAQ:SSYS) stock is trading higher Thursday following Nano Dimension Ltd’s (NASDAQ:NNDM) unsolicited special tender offer to acquire between 53% and 55% ownership of Stratasys.
- Nano Dimension proposed to acquire between 53% – 55% ownership of Stratasys for $18.00 per share in cash.
- Nano Dimension’s all-cash special tender offer represents a premium of 26% to Stratasys’ closing price of $14.26 as of March 3, 2023.
- Nano Dimension has been trying to woo Stratasys since at least March 2023.
- Earlier today, Stratasys agreed to merge with Desktop Metal, Inc (NYSE:DM) in an all-stock transaction valued at approximately $1.8 billion.
- Desktop Metal stockholders will receive 0.123 ordinary shares of Stratasys for each share of Desktop Metal Class A common stock.
- The purchase consideration implies a premium of 7.4% to Desktop Metal’s May 24 closing of $1.75.
- The combined company will likely generate approximately $50 million in additional annual run-rate cost synergies by 2025, targeting 10%-12% adjusted EBITDA margins in 2025.
- Stratasys shareholders will own approximately 59% of the combined company, and legacy Desktop Metal stockholders will hold about 41%.
- Price Action: SSYS shares traded higher by 3.16% at $15.35 on the last check Thursday.
23andMe Reveals Hackers Accessed ‘Significant Number’ Of DNA Records
23andMe confirmed that hackers accessed around 14,000 customer accounts and an undisclosed number of files containing users' ancestry data.
