Stratasys stock jumps toward 11-month high after Nano Dimension raises buyout bid by 20%

Shares of Stratasys Ltd.
SSYS,
+8.66%
surged 6.1% toward an 11-month high in morning trading Monday, after Nano Dimension Ltd.
NNDM,
-0.33%
lifted its unsolicited buyout cash bid for the 3-D printer maker by 19.7%, to $24.00 a share from $20.05 a share. The new bid implies a 38.1% premium to Friday’s closing price of $17.38. Nano Dimension said its tender offer expires on July 24 at 5 p.m. Eastern. The new bid comes after Stratasys said on June 30 that it would stick with its merger deal with Desktop Metal Inc.
DM,
+2.32%,
despite the takeover battle being waged by Nano Dimension and 3D Systems Corp.
DDD,
+3.35%.
Nano Dimension shares fell 0.9% in morning trading, while 3D Systems shares gained 1.1%, Desktop Metal’s stock was little changed and the S&P 500
SPX,
+0.23%
tacked on 0.2%.