Nano Dimension withdraws as Stratasys and 3D Systems engage in merger discussions.

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Mergeracolypse continues to unfold in the 3D printing industry, but with a different twist. In a surprising move, Nano Dimension Ltd., a prominent Israeli electronics 3D printing company, has withdrawn its special tender offer to Stratasys shareholders and abandoned its efforts to replace the company’s board. This comes amidst ongoing discussions between Stratasys and another major player in the industry, 3D Systems, about a potential merger.

Nano Dimension’s Chairman and CEO, Yoav Stern, made the announcement, stating that their attempts to convince enough Stratasys shareholders to support the removal of the current board had been unsuccessful. Stern criticized Stratasys’ adoption of a shareholder rights plan, also known as a “poison pill,” which prevents Nano Dimension from acquiring more than 15 percent of the company. This poison pill has become a major obstacle for Nano Dimension’s all-cash tender offer to Stratasys shareholders.

Stern expressed his frustration with Stratasys’ refusal to terminate the poison pill, as well as the prolonged legal process in Israel that would address this issue. He said, “The Stratasys board’s stance makes it clear that the poison pill is there to stay and will continue to block shareholders from having an opportunity to tender their shares.” As a result, Nano Dimension has decided to step back from its hostile takeover attempt and focus on other acquisitions and organic growth plans.

While Nano Dimension shifts its strategy, 3D Systems announced that it has set August 4, 2023, as the target date for completing due diligence and merger agreement discussions with Stratasys. On July 13, 3D Systems made what it considers its “best and final” binding offer, which includes a termination fee for Stratasys’ planned merger with Desktop Metal.

However, Stratasys has responded to 3D Systems’ announcement, stating that the company has not provided sufficient due diligence materials and information regarding potential negative revenue synergies. Stratasys claims that 3D Systems’ cost synergy analysis lacks critical details and that important information is still missing. The company emphasizes the need for a responsible and informed decision-making process and expresses dissatisfaction with the “best and final proposal” labeling, insinuating that further negotiation might be possible.

As the dynamics continue to evolve in the 3D printing industry, it remains uncertain how the mergeracolypse will ultimately unfold. Nano Dimension’s withdrawal from the Stratasys deal opens up possibilities for alternative acquisitions, fueled by its substantial cash reserves. Meanwhile, Stratasys and 3D Systems navigate the complexities of due diligence and negotiations, with both parties still eager to explore the potential synergies of a merger.

While the story and underlying logic remain the same, this alternative blog post presents the information in a slightly different format, emphasizing key points and providing a fresh perspective on the ongoing merger discussions.

Blog Post: The Intriguing Dance of 3D Systems and Stratasys###

In the ever-evolving world of 3D printing, the ongoing saga between industry giants 3D Systems and Stratasys has taken yet another unexpected turn. It seems that both companies are now utilizing public statements as a strategic tool to secure a favorable outcome for their proposed combination. This revelation raises questions about the level of transparency and cooperation that truly exist between the two parties.

The recent withdrawal of Nano Dimension, a potential game-changer in the deal, has left industry observers stunned. Despite its disruptive presence, it appears that Stratasys might actually benefit from this turn of events. The company’s stock price surged past the $20 mark since hitting a low point in January. Furthermore, 3D Systems felt compelled to increase its offer, going so far as to make it binding, in order to prevent Nano from backing out.

While Nano Dimension may have decided to pursue other options, there is still a glimmer of hope for them. They could potentially seek a lifeline through a termination fee while actively searching for alternative acquisition opportunities. In a surprising twist, it is not entirely out of the realm of possibility that a 3D Systems-Stratasys combination could emerge as a viable suitor for Desktop Metal. This scenario would benefit all parties involved, as it would undoubtedly create a powerful force within the industry.

However, as Danny Piper wisely pointed out, a deal is not finalized until it is officially sealed. Therefore, there are bound to be further developments in this fluid situation. The future of these companies and the potential union between 3D Systems and Stratasys remain uncertain for now.

As industry enthusiasts, it is crucial to stay up-to-date with the latest happenings in the 3D printing sector. By doing so, we can ensure that we are well-informed about the various transactions, mergers, and acquisitions that shape the industry landscape. Additionally, staying connected with reliable news sources helps us receive valuable information and exclusive offers from trusted third-party vendors.

In conclusion, the ongoing dance between 3D Systems and Stratasys continues to captivate the 3D printing community. The twists and turns, the strategic public statements, and the possibility of unexpected alliances make this storyline all the more intriguing. Only time will tell how this intricate plot will ultimately unfold.

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