4 big deal reports: Stratasys finally agrees to talks with 3D Systems, spurns Nano
By Davit Kirakosyan
Investing.com — Here is your Pro Recap of 4 head-turning deal dispatches you may have missed last week: Stratasys agrees to merger discussions with 3D Systems and rejects Nano again; VMware-Broadcom receives clearance from U.K. regulator; merger deal signed between Dell and Moogsoft, and KKR picks up a specialty chemicals name.
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After six weeks of unsolicited proposals and rejections, Stratasys (NASDAQ:SSYS) said early last week that 3D Systems' (NYSE:DDD) most recent revised buyout offer «would reasonably be expected to result in a 'Superior Proposal'» as defined within its all-stock $1.8 billion merger agreement with Desktop Metal (NYSE:DM), inked in May.
Under the terms of this latest 3D Systems offer, each Stratasys share would convert into $7.50 in cash and 1.5444 shares of the combined company, representing some 44% ownership for Stratasys shareholders.
Earlier that same day, Stratasys strongly rejected Nano Dimension's (NASDAQ:NNDM) latest partial tender offer — for $24 per share in cash — saying in a letter to shareholders that the hostile offer is «misleading, coercive, substantially undervalues the Company as a whole and is NOT in the best interests of all Stratasys shareholders.» Stratasys added:
The Stratasys Board Urges Shareholders NOT TO TENDER Their Shares, to Withdraw Any Shares That Have Already Been Tendered, AND to File a Notice of Objection
That triggered an equally strong response from Nano, which cited an Israeli district court judge in a letter to shareholders and claimed that holders «cannot rely on the accuracy and reliability of news releases and announcements and presentations which are
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