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Stratasys commits to Desktop Metal merge; terminates discussions with 3D Systems
Additive Manufacturing
Sep 12, 2023
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Additive Manufacturing

Additive Manufacturing

Sep 12, 2023

Stratasys commits to Desktop Metal merge; terminates discussions with 3D Systems

M&A

  • Stratasys, a polymer 3D-printing solutions company, rejected a revised proposal that it received from 3D Systems to acquire Stratasys. The company reaffirmed its support for the pending merger with Desktop Metal.

  • Stratasys' Board has unanimously concluded that 3D Systems' proposal significantly undervalues Stratasys and does not qualify as a "Superior Proposal" under Stratasys' merger agreement with Desktop Metal. 

  • The board cited multiple concerns regarding 3D Systems, including its growth prospects, gross margins, profitability, synergy potential, regulatory approval risks, and the ability of 3D Systems' management to run a combined company. 

  • Analyst QuickTake: Stratasys had earlier turned down a proposal from 3D Systems this June. Instead, Stratasys reaffirmed its commitment to merging with Desktop Metal and took steps to advance the process by filing a preliminary Form F-4 with the US Securities and Exchange Commission. The company aimed to finalize this transaction in Q4 2023.

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