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By Ben Glickman
3D Systems said Stratasys has rejected its latest proposal to merge the two companies.
The Rock Hill, S.C.-based, three-dimensional printing company said that its new offer, which would convert each Stratasys share into $7 and give those investors a 46% stake in the combined company, was rejected by the board of directors at Stratasys. 3D Systems said the board continues to support a previously-agreed upon merger deal with Desktop Metal.
3D Systems also said that Stratasys wasn’t interested in any further discussions about a possible merger.
The company said its new offer values Stratasys at more than $27 per share, including the impact of synergies. 3D Systems said deal was rejected because the price its shares are trading at was seen as too low by Stratasys’s board.
Stratasys has been in talks with 3D Systems to determine whether the company’s proposal was a superior offer to its already agreed upon all-stock merger with Desktop Metal.
Write to Ben Glickman at [email protected]
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