Stratasys again rejects sweetened partial tender offer from Nano Dimension as ‘significantly’ undervaluing company

Stratasys Ltd.
SSYS,
+2.16%
said Wednesday its board has again rejected a sweetened offer from Nano Dimension Ltd.
NNDM,
-0.63%
put out on Tuesday, saying it continues to “significantly undervalue” the company and urging shareholders to reject it. Nano Dimension raised its offer to $25 a share in cash, from $24 previously as it seeks to acquire between 31.9% and 36.9% of the company’s shares. The pair have been locked in a three-way battle with 3D Systems Corp.
DDD,
+0.73%
which is also trying to acquire Stratasys, a maker of 3-D printers, since May. The board cautioned shareholders that if they offer shares into the tender, they may have as few as 40% of their shares purchased, and risk becoming minority shareholders in a Nano-controlled company. Stratasys’s stock was up 1% premarket and has gained 80% in the year to date amid the battle for control, while the S&P 500
SPX,
+0.71%
has gained 18.6%.