The judge also noted that “where the Board acted in good faith, after having informed itself and after consulting with experts, all for the benefit of the shareholders and the company, the board’s business judgment would be legitimate.”Īnalysts are bullish about SSYS stock, with a Strong Buy consensus rating based on five Buys and one Hold. In addition, an Israeli Court ruled that Shareholder Rights Plan (SRP) is legal under Israeli law. Nano Dimension had challenged the SRP plan in Court and had deemed it illegal. Stratasys asked its shareholders “NOT TO TENDER Their Shares, to Withdraw Any Shares That Have Already Been Tendered, AND to File a Notice of Objection.” The company being controlled by Nano is likely to lead to SSYS shares trading at a heavy discount, which could be in the range of $9 to $15 per share or less. The company pointed out that Nano’s partial tender offer implies a blended value of around $16 to $19 per share or less, assuming full participation in the offer. Therefore, shareholders risk becoming a minority shareholder in a Nano-controlled company by tendering into Nano’s partial tender offer.” Stratasys outlined its reasons for rejecting the offer and stated that partial tender offers could be “misleading” and “value destructive” for shareholders and Stratasys “shareholders who tender their shares may have as few as approximately 40% of their shares purchased, assuming full participation in the offer. The manufacturer of 3D printers and software, Stratasys ( NASDAQ: SSYS), unanimously rejected Nano Dimension’s ( NASDAQ: NNDM) sweetened takeover bid of $25 per share in cash from its prior offer of $24 per share on Wednesday.
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