It’s over… Stratasys shareholders reject merger with Desktop Metal

The epic acquisition of the largest companies in the global 3D printing industry, which has been ongoing since May this year, has just come to an end. Unfortunately, this is not the end that everyone was hoping for… Today, during the Extraordinary General Meeting of Stratasys Shareholders, a vote was taken on the merger with Desktop Metal proposed by the company’s management, worth approximately USD 1.8 billion. The majority was against, which means that the merger project ultimately failed and will not be continued. A few weeks earlier, Stratasys rejected 3D Systems’ offer, so this merger will not take place either. After nearly five months of public disputes and quarrels, it turns out that everything remains – for now – as it was…

Following the vote, the Stratasys board began the process of searching for strategic alternatives for the company. He also stated that the process of maximizing shareholder value will begin immediately. Potential strategic alternatives that it will explore or evaluate may include, but are not limited to, a strategic transaction, a potential merger, business combination or sale.

Stratasys says there can be no assurance that the strategic review process will result in any transaction or other strategic outcome. The Company does not intend to disclose further progress in the strategic review process unless appropriate or necessary. The Management Board unanimously adopted an amendment to the shareholder rights plan (the so-called “poison pill” announced at the end of July 2022 to prevent the takeover by Nano Dimension), according to which its validity period was extended by three months.

Shortly after Stratasys announced the end of merger talks, Desktop Metal announced that its shareholders had voted favorably in favor of the deal. Given the failure of the talks, Desktop Metal is to receive the agreed contractual penalty from Stratasys.

Source: www.stratasys.com
Photo: www.pixabay.com