Home Share Market Stratasys Finally Agrees to Talks with 3D Systems, Investing.com Turns Down Nano

Stratasys Finally Agrees to Talks with 3D Systems, Investing.com Turns Down Nano

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Stratasys Finally Agrees to Talks with 3D Systems, Investing.com Turns Down Nano


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by Davit Kirakosyan

Investing.com – Here’s your pro recap of 4 surprising deal dispatches you might have missed last week: Stratasys agrees to merger talks with 3D Systems and rejects Nano again; VMware-Broadcom gets approval from UK regulator; A merger agreement was signed between Dell and Moogsoft and KKR chose a specialty chemical name.

This news was first received by InvestingPro subscribers. Never miss another headline that moves the market.

Stratasys agrees to merger talks with 3D Systems, dismisses Nano Systems

After six weeks of unsolicited offers and rejections, stratasys (NASDAQ: ) said early last week that the most recent amended buyout offer from 3D Systems (NYSE: ) would “reasonably be expected to result in a ‘superior offer'” as defined in its all-stock $1.8 billion merger agreement with Desktop Metal (NYSE: ), which was signed in May.

Under the terms of this latest 3D Systems offer, each Stratasys share will convert to $7.50 in cash and 1.5444 shares of the combined company, representing approximately 44% ownership for Stratasys shareholders.

Earlier the same day, Stratasys strongly rejected Nano Dimension’s (NASDAQ: ) latest partial tender offer — for $24 per share in cash — in a letter to shareholders, saying the hostile offer was “deceptive, coercive, undervalues ​​the company as a whole and is not in the best interests of all Stratasys shareholders.” Stratasys added:

The Stratasys Board urges shareholders not to tender their shares, withdraw any shares already tendered, and file a notice of objection

This prompted an equally strong response from Nano, which in a letter to shareholders cited an Israeli district court judge and claimed that holders “cannot rely on the accuracy and reliability of news releases and announcements and presentations written and published by your board and management.”

Shares of Stratasys fell 4.6% to $20.27 this week, while 3D Systems slumped 8.8%. In the last five sessions, Desktop Metal declined by 1.1% and Nano gained by 5%.

VMware stock jumps after UK’s CMA approves Broadcom acquisition

VMware (NYSE: ) shares soared more than 5% on Wednesday following provisional approval by the UK’s Competition and Markets Authority (CMA) for the anticipated acquisition of VMware by Broadcom (NASDAQ: ), as reported in real time on InvestingPro.

According to a statement from the CMA, the regulatory body has provisionally determined that the merger is not likely to result in a significant reduction of competition in the supply of various server hardware components in the UK, however, it is important to note that this is not a final decision, and a final report is due to be released by 12 September.

The deal had received conditional approval from the European Commission earlier this month.

Dell will acquire Moogsoft

Dell Technologies (NYSE: ) announced its definitive agreement to acquire Moogsoft, a provider of AI-powered intelligent monitoring solutions for DevOps and ITOps.

The move will enhance Dell’s AIOps capabilities and aligns with its “Multicloud by Design” strategy. The transaction is expected to close in Q3.

KKR to acquire Chase for $1.3B

Follow (NYSE: ), a leading global manufacturer of protective materials for high-reliability applications, has confirmed that it will be acquired by an affiliate of investment funds managed by KKR, a leading global investment firm. As a result, shares of Chase rose more than 3% on Thursday.

According to the agreement, KKR will purchase all outstanding shares of Chase common stock at a price of $127.50 per share in cash, including the assumption of debt, valuing Chase at approximately $1.3B.

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