Stratasys and 3D Systems discuss merger while Nano Dimension steps back.

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The world of 3D printing has been rocked by the latest developments in the ongoing saga known as Mergeracolypse. This time, it involves multiple companies – Desktop Metal, 3D Systems, and Nano Dimension – all vying to merge with industry giant Stratasys.

However, the plot thickens as Nano Dimension, an Israeli electronics 3D printing company, announces its withdrawal of a special tender offer to Stratasys shareholders, along with its efforts to replace the company’s board. Nano Dimension CEO Yoav Stern explains that their attempts to convince shareholders of the need for change have fallen short, thanks in part to Stratasys’ adoption of a “poison pill” shareholder rights plan.

Stern states, “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.” This, among other factors, has led Nano Dimension to abandon its hostile takeover bid and focus instead on other acquisitions and organic growth.

Meanwhile, 3D Systems has announced a target date of August 4, 2023, for completing its due diligence and merger agreement discussions with Stratasys. The company made a “best and final” binding offer on July 13, which includes a termination fee for Stratasys’ planned merger with Desktop Metal. However, Stratasys has responded by stating that 3D Systems has not provided sufficient due diligence materials or information related to potential negative revenue synergies.

In a press release, Stratasys expresses its disappointment with 3D Systems’ lack of cooperation, stating, “While 3D Systems has provided some cost synergy analysis, it’s only high level and lacks critical details that would substantiate their cost synergy claims.” Stratasys also takes issue with the “best and final proposal” phrasing, suggesting that further negotiations were expected.

With tensions running high and the fate of these mergers still uncertain, it remains to be seen how this epic battle for dominance in the 3D printing industry will ultimately play out. Stay tuned for further updates as the story unfolds.

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If Stratasys and 3D Systems genuinely desire to merge, they must prioritize cooperation and transparency rather than relying on distorted public statements to finalize the deal. The implication seems to be that both companies are using public declarations to shape the terms of the agreement.

This assertion is intriguing, given the prolonged struggle between Stratasys, the apparent protagonist in this wrestling match, and Nano Dimension, the potential antagonistic force. Hence, it is surprising to witness Nano Dimension withdraw from the deal. While it may have caused a headache, Stratasys could potentially benefit from this development due to the surge in its stock price, surpassing the $20 mark since its low point in January.

Furthermore, 3D Systems had no choice but to increase its offer, going so far as to make it binding, only to have Nano back down. Consequently, Desktop Metal might find solace in the termination fee as it endeavors to secure an acquisition elsewhere. Alternatively, a more favorable outcome for all parties involved would be if a 3D Systems-Stratasys merger led to the purchase of Desktop Metal. Nonetheless, as Danny Piper emphasized in the latest episode of Printing Money, the deal is not considered closed until it is truly finalized, leaving room for further developments to unfold.

To keep yourself informed about the latest news in the 3D printing industry, and to receive updates and offers from third-party vendors, remember to stay up-to-date with trusted sources.

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