Israeli 3D printing firm Nano Dimension (Nasdaq: NNDM) has raised its bid to buy Israeli polymer 3D options firm Stratasys (Nasdaq: SSYS) shares from $18 per share in money to $19.55. Stratasys has confirmed receipt of the unsolicited, non-binding acquisition proposal, which displays a 38.6% premium on Tuesday night time’s closing value on Wall Road, and an organization valuation of $1.2 billion.

Yesterday, Stratasys’s share value jumped 13.82% to $16.06. Nano Dimension, led by CEO Yoav Stern, already holds a 14.5% in Stratasys and earlier this month grew to become an activist shareholder within the firm by demanding to affect its enterprise strikes. Final summer time Nano Dimension grew to become a celebration at curiosity within the firm and in response Stratasys, led by CEO Dr. Yoav Zeif adopted a restricted period shareholders rights plan (poison capsule) method to stop a takeover.

This mechanism comes into operation if any firm reaches a 15% holding in Stratasys. In an try to keep away from this, Nano Dimension is now providing to purchase all Stratasys’s shares in order that the shareholders will in the end resolve issues, offering the supply turns into binding.

Nano Dimension raised $1.5 billion on Nasdaq throughout the peak of the tech growth in 2020-2021, and nonetheless has greater than $1 billion money in its coffers for acquisitions, despite the fact that its market cap stands at solely $800 million.

On the similar time, Nano Dimension itself has been the goal of a takeover by one in every of its activist traders, Canadian funding agency Murchinson, which has sought to oust a number of the Israeli firm’s administrators in favor of its personal candidates. It could be that emptying its coffers by way of a serious acquisition will quell Murchinson’s motivation to takeover Nano Dimension.

Printed by Globes, Israel enterprise information – en.globes.co.il – on March 30, 2023.

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