2023-09-06 14:10:13
Stratasys management wants to push through with the merger with Desktop Metal. This week it started motivating shareholders to vote in favor of the merger at the extra shareholders’ meeting at the end of September.
Is the bullet finally through the church? What the Board of Directors of Stratasys does concern. More than a month following the company last came out with news regarding the merger with Desktop Metal or acquisition by 3D Systems, it broke radio silence this week. With Desktop Metal, we are accelerating our mission to lead the additive manufacturing industry to mass production. the Board of Directors writes in a message to the shareholders.
Customers rally behind fusion
The explanatory note expresses the expectation that the merged group will serve a twice as large market in 2027. It is striking that the Executive Board feels strengthened by a number of major customers of both groups who support the merger. These include Karten Heuser of Siemens, Martin beck of BASF Dorward AM, David Wilson, president of Toyota Racing Development and Bloom Technology CEO Blake Scholl.
First AM company with more than billion dollars in turnover
If passed, the Board of Directors believes the proposal would create the first AM company with sales in excess of $1 billion with sufficient scale to lead the AM industry into mass production. In three years, sales should already have grown to $1.6 billion with a pro forma 20% EBITDA margin.
Stock price
The proposal from 3D Systems was rejected, partly due to the fall in the share price of 3D Systems. That wanted to pay part of the acquisition price in shares. This rate fell by more than 40% between mid-July and early September. Incidentally, that of Stratasys itself as well.
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