NEW YORK - Influential proxy advisory firm Institutional Shareholder Services recommended 3D printer manufacturer Stratasys shareholders reject plans to buy Desktop Metal, saying another offer "presents a more convincing route to value creation," in a note seen by Reuters on Wednesday.
"It is not clear that it creates value for 3D printer manufacturer Stratasys shareholders," ISS wrote in its note to clients with a headline "vote against acquisition at SSYS meeting."Instead, ISS wrote that a bid from 3D Systems to buy Stratasys, which was disclosed last week and is the latest in a series of overtures to buy the company that now plans to buy someone else, would offer more value to shareholders.
The deal would generate about $50 million in revenue synergies plus $50 million in annual cost savings by 2025, the Stratasys board has argued. The directors felt this deal was more attractive than others, including overtures from 3D Systems and Nano Dimension.
United States United States Latest News, United States United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: BNNBloomberg - 🏆 83. / 50 Read more »