Stratasys terminates merger with Desktop Metals; shares fall

Stratasys

28/09/2023 17:32

** Shares of 3D printing solutions company Stratasys
 SSYS.O  rise 6.3% to $13.02
    ** Stock on track for biggest single-day percentage gain in
over two months if gains hold 
    ** SSYS terminates merger with Desktop Metals  DM.N 
    ** Co also announces plans to explore strategic
alternatives, after shareholders vote against the all-stock deal
with DM
    ** On May 25, SSYS said it would merge with peer Desktop
Metal in an all-stock transaction valued at about $1.8 bln
    ** The Donerail Group, the largest shareholder of SSYS on
Sept. 21, issued an open letter to co's board discussing
"serious concerns" with acquisition of DM
    ** SYSS's board previously rejected a partial tender offer
from Nano Dimension, and revised offers from 3D Systems  DDD.N 
    ** DM to be compensated agreed-upon fees on termination of
agreement - DM's CEO Ric Fulop
    ** SSYS up 9.7% YTD, including session gains 
    

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