Stratasys To Engage In Talks With 3D Systems On Revised Merger Proposal; SSYS Up In Pre-market

(RTTNews) - Stratasys Inc. (SSYS), a polymer 3D printing solutions provider, announced on Monday that it intends to engage in talks on the revised July 13 proposal by 3D Systems Corp. (DDD) to be acquired for $7.50 in cash and 1.5444 newly issued shares of 3D Systems per share of Stratasys.

Following the news, SSYS was trading up by 5.84 percent at $21.56 per share in the pre-market trading on the Nasdaq.

Stratasys, however, noted that the discussions are subject to the requirements of the Desktop Metal merger deal.

"Stratasys' Board has not determined that 3D Systems' revised proposal in fact constitutes a Superior Proposal as defined in the merger agreement with Desktop Metal, and the Stratasys Board has not changed its unanimous approval of the transaction with Desktop Metal…," Stratasys said.

On May 25, Stratasys and Desktop Metal announced that they entered into a definitive deal to combine in an all-stock transaction valued at around $1.8 billion. Under the deal terms, each Desktop Metal stockholders will receive 0.123 ordinary shares of Stratasys.