In a recent development, 3D Systems has announced that its proposal to merge with Stratasys has been rejected. The South Carolina-based 3D printing company had made a new offer, suggesting that each Stratasys share be converted into $7 and giving investors a 46% stake in the combined entity. However, the board of directors at Stratasys did not approve this proposition, as they remained committed to their previously agreed merger deal with Desktop Metal.
Despite their efforts, 3D Systems revealed that Stratasys was not interested in any further discussions regarding a potential merger. The company firmly believed that their latest offer valued Stratasys at over $27 per share, taking into account the impact of synergies. However, the Stratasys board considered the current trading price of 3D Systems’ shares to be too low.
Throughout this process, Stratasys has been in dialogue with both 3D Systems and Desktop Metal to assess whether the latter’s proposal was indeed a superior alternative to their existing all-stock merger.
Overall, it appears that the merging of 3D Systems and Stratasys is not currently in the cards, as the two companies have failed to reach an agreement on their latest merger proposal.
