3D Systems has announced an increased offer to acquire Stratasys after a rival bidder, Nano Dimension, raised its offering for the company. The new offer from 3D Systems values Stratasys at a total bid value of $2 billion, equivalent to approximately $28 per share. Under this revised offer, each Stratasys shareholder would receive $7.50 in cash and 1.5444 shares of the combined company per share.

3D Systems stated that Stratasys shareholders would own approximately 44% of the combined company and would additionally receive $540 million in cash. This new offer represents a significant increase compared to 3D Systems’ previous offer, which valued Stratasys at $20.84 per share.

Stratasys had previously rejected bids from both Nano Dimension and 3D Systems, as the company had agreed to a merger with another 3D printing company, Desktop System. However, Nano Dimension, which already holds partial shares in Stratasys, made an improved offer of $24 per share and proposed a new slate of directors for Stratasys’s board.

In response to the news, Stratasys’s shares rose 7.7% to $20.65 in pre-market trading on Thursday.

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