Stratasys shareholders reject Desktop Metal deal

Sept. 28, 2023
Chairman Dov Ofer said Stratasys board will pursue strategic alternatives to maximize shareholder value.
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3D printer manufacturer Stratasys announced that its board of directors “has initiated a process to explore strategic alternatives for the company” after its preliminary count indicated shareholders did not approve its merger agreement with Desktop Metal.

Stratasys said in a statement that it had terminated the merger agreement and “the comprehensive process to maximize shareholder value will begin immediately. Potential strategic alternatives to be explored or evaluated may include, but are not limited to, a strategic transaction, potential merger, business combination or sale.”

“We have decided to undertake a comprehensive and thorough review of all available strategic alternatives,” said Dov Ofer, chairman of Stratasys’ board of directors, in the statement. “We are entering this review as the leader in the additive manufacturing space and will continue to execute our strategy, powered by innovation and profitable growth, which has led Stratasys to outpace the competition. Importantly, we remain focused on our mission to deliver value to customers and are committed to taking the appropriate actions to maximize value for all Stratasys shareholders.”

Stratasys recently rejected a takeover proposal from 3D Systems; Nano Dimension has also made multiple unsuccessful offers to acquire Stratasys.

CEO Yoav Zeif recently spoke to IndustryWeek, like PMM an Endeavor Business Media publication, about the additive manufacturing landscape.

After the deal fell apart, Desktop Metal CEO Ric Fulop also spoke to IndustryWeek.