Shares of 3-D printing company Stratasys Ltd. SSYS were rising 7% in premarket trading Wednesday after Nano Dimension Ltd. NNDM said it was prepared to begin a special tender offering targeting at least 51% ownership of Stratasys’ stock for $18 a share. Nano already owns about 14.5% of Stratasys’ shares outstanding. Nano announced Tuesday that it was offering $20.05 a share in cash to acquire the remaining shares of Stratasys that it didn’t own, with that price marking an increase from a prior offer that was rejected by Stratasys. “Nano Dimension remains willing to negotiate in good faith a consensual transaction at its previously announced ‘best and final’ offer of $20.05 per share,” Nano said in Wednesday’s release, though it is “prepared to commence this special tender offer” if the board of Stratasys “continues its unwillingness to engage.” Stratasys said in a Tuesday release that its board would “carefully review and evaluate the proposal to determine the course of action that it believes is in the best interests” of the company and its shareholders.
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.