![]() ![]() The rights plan had a 364 day term, and expires on July 24, 2023, and was implemented with the aim of protecting the long-term interests of Stratasys and its shareholders. Stratasys said this plan was to deter any potential ‘hostile takeover’. Stratasys deployed a similar shareholder rights plan in July 2022, a week after Nano Dimension acquired its 12% stake. Murchison is said to own more than 10 million shares in Nano Dimension. made a non-binding proposal to acquire the remaining shares in the company for 4 USD per share, which at the time was a premium of 52%, with the total offer amounting to 995 million USD. The company adopted a shareholder rights plan in January 2023 that was unanimously approved by its Board of Directors, after top shareholder Murchison Ltd. The acquisition offer comes in the midst of a power struggle at Nano Dimension. The execution of a definitive merger agreement would be subject to due diligence and approval by the boards of directors of the two companies, and completion of the transaction would be subject to customary closing conditions, including receipt of required regulatory approvals and approval of Stratasys’ shareholders. We look forward to continuing our discussions with Stratasys to reach a mutually acceptable transaction.” With Nano Dimension’s strong culture of innovation and track record of successful merger integration, we expect to unlock significant value for all stakeholders. Bringing Stratasys and Nano Dimension together is about positioning both companies to succeed as a combined company and lead the industry into the next phase. “In recent years the AM market has grown in size and accelerated remarkable technological advancement, and it is on the cusp of its next phase of development and growth. We believe this is an exceptional opportunity for all stakeholders -shareholders, customers, management, employees, and business partners, of both companies. Together, Nano Dimension and Stratasys can offer an increasingly exciting set of solutions for customers while becoming better positioned to compete in the AME and AM industries. ![]() Yoav Zeif, who we believe is the architect of Stratasys’ recent positive momentum. In this week's press release announcing the acquisition offer, Yoav Stern commented: “We have great respect for Stratasys’ business, including Chief Executive Officer Dr. Nano Dimension says the acquisition will provide attractive opportunities to management and employees, as well as brining the companies together to be a ‘leader in growth and profitability.’ The company also aims to ‘generate significant synergies’ by streamlining the organisation of the two companies, improving cost structure, aligning overhead and go-to-market efforts, and yielding efficiencies by combining R&D resources. Nano Dimension says it is also aiming to enhance market penetration, new customer acquisition and cross-selling opportunities. Another goal is to accelerate research and development, including the accelerated deployment of Nano Dimension’s deep learning based AI group, DeepCube, which is the foundation of its cloud manufacturing platform. Later, when speaking to TCT, Stern said: “Not necessarily,” when asked if Nano Dimension had a desire to hold a controlling stake in the company, at a time when rumours were swirling that the company wanted to position itself as the 3D printing leader.Īn aim of Nano Dimension, with the combination of the two companies is to establish a ‘market-leading portfolio’ of complementary systems, materials, software, and complete solutions. Nano Dimension CEO and Chairman Yoav Stern did not rule out further investment after the acquisition of 12.12% of the shares when the purchase was announced “Incidentally, we may increase or decrease our investment in Stratasys, subject to market conditions and other economic factors,” said Stern in July 2022. Stratasys confirmed it had received the offer shortly after Nano Dimension's announcement on Friday March 10, with the company's Board of Directors set to 'review and evaluate' the proposal to determine the course of action 'that it believes is in the best interest of the Company and Stratasys shareholders.' Nano Dimension says the proposal delivers immediate and certain value to Stratasys’ shareholders and will ‘vastly’ strengthen the company’s ability to capitalise on opportunities in the current environment. This offer reflects a premium of 36% to the unaffected closing trading price as of March 1, 2023, and a 31% premium to the 60-day VWAP through March 1, 2023. ![]()
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