Nano Dimension Ltd. NNDM said Thursday it has launched a tender offer at $18 per share in cash for to purchase between 38.8% to 40.8% of the outstanding shares of Stratasys Ltd. SSYS in an effort to increase its stake in the 3-D printing company to 53% to 55%. The news comes just moments after Stratasys announced plans to combine with Desktop Metal Inc. DM in an all-stock deal valued at $1.8 billion. Nano Dimension said it’s still determined to creating a market leader in the additive manufacturing space. “As we had previously indicated to the Stratasys Board, given their continued refusal to engage in negotiations, we have decided to present our offer directly to Stratasys’ shareholders,” said Yoav Stern, Nano Dimension’s chairman and CEO. “We believe our offer delivers certain all-cash value to Stratasys’ shareholders at a premium in excess of what Stratasys can deliver to its shareholders.” Stratasys shareholders have until June 26 to tender their shares into the offer. Stratasys stock was up 3% premarket, while Desktop Metal was up 6%. Nano Dimension shares were not yet active. Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
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