3D Systems issued a statement saying it welcomes Stratasys’ decision to explore strategic alternatives after its merger with Desktop Metal failed to receive sufficient approval from the company’s shareholders. 3D Systems still maintains its offer and expects Stratasys to sign the presented merger agreement before its expiration on October 5, 2023. However, the Stratasys board rejected it even before its shareholders voted on the proposed merger with Desktop Metal…
Recognizing that some shareholders may still want Stratasys to continue this process, 3D Systems said it is willing to amend its current binding proposal to include a 60-day start-up period – meaning Stratasys will have time to finding a competitive offer. 3D Systems is willing to change its offer in this way rather than waiting for Stratasys’ decision to develop into a viable sales process.
During this 60-day period, Stratasys will be able to actively solicit alternative merger or acquisition proposals and offers and will have the option to terminate the merger agreement with 3D Systems in order to enter into a transaction deemed superior. President and CEO, Dr. Jeffrey Graves commented: “We continue to believe that the combination of 3D Systems and Stratasys represents the most attractive opportunity for Stratasys shareholders and the entire additive manufacturing industry given the tremendous opportunities for scale and synergies.”
“Our offering, which will be available through October 5, and our willingness to include an introductory period in this offering, now present a unique opportunity for Stratasys, enabling its management team to execute a transaction that the market agrees to while offering the flexibility to explore other offerings. “This amendment reflects our confidence in the superior value of our proposition and our belief that the market has had ample time to gauge interest in Stratasys, which has already attracted ten offers in the last six months,” Graves added.
Source: www.3dsystems.com