3D printer maker Stratasys up after Nano Dimension launches offer to raise ownership

Nano Dimension

25/05/2023 12:28

** Shares of 3D printer maker Stratasys Ltd  SSYS.O  rise
3.49% to $15.40 in the premarket trade 
    ** Nano Dimension Ltd  NNDM.O  commences special tender
offer to purchase 38.8%-40.8% outstanding ordinary shares of 
Stratasys for $18.00 per share in cash
    ** The successful completion of the special tender offer
would increase Nano's stake to between 53% and 55%, inclusive of
the about 14.2% which Nano already owns in SSYS 
    ** NNDM's offer to shareholders comes as Stratasys says it
will merge with peer Desktop Metal Inc  DM.N  in an all-stock
transaction valued at about $1.8 billion, including debt
    ** Shareholders have until June 26 to tender shares into the
offer - Nano 
    *YTD, shares of SSYS have risen 25.46% vs 31.28% gain in S&P
500 Technology Hardware, Storage & Peripherals Index
 .SPLRCTHSP 
    
    

 (Reporting by Ananta Agarwal in Bengaluru)
 ((Ananta.Agarwal@thomsonreuters.com))