Stratasys and Desktop Metal have received a request for additional information from the Antitrust Division of the United States Department of Justice, in connection with the merger agreement between the two companies.
A filing with the United States Securities and Exchange Commission (SEC) detailed that on August 18, 2023, the companies received the request for additional information, also known as a “second request”, from the DOJ under the Hart-Scott-Rodino (HSR) Antitrust Improvements Act of 1976.
According to the Federal Trade Commision (FTC), if the FTC or DOJ seeks additional information through a second request, then by law the firms are forbid from consummating a transaction until the companies have “substantially complied” with the additional investigatory request.
The filing stated that issuance of the second request extends the waiting period imposed by the HSR Act until 30 days after Stratasys and Desktop Metal have substantially complied, unless the period for review is terminated earlier by the DOJ.
After rejecting multiple takeover attempts from Nano Dimension, Stratasys announced it had entered into an agreement with Desktop Metal to merge in a deal worth 1.8 billion USD on May 25, 2023. Less than a week later, 3D Systems made an attempt to acquire Stratasys, an attempt that was eventually rejected.
After a second bid was rejected, a third bid from 3D Systems on July 13 would see Stratasys enter discussions with the company, despite the Desktop Metal merger agreement, and say that the new offer would “reasonably be expected” to result in a “superior proposal” to the Desktop Metal merger.
Read more:
A complete timeline of the Stratasys + Nano Dimension + Desktop Metal + 3D Systems story (so far)
Stratasys and Desktop Metal to merge in deal worth $1.8 billion
Stratasys & Desktop Metal: What we know so far
7 things we learned from Stratasys & Desktop Metal’s Joint Transaction Investors Call
TCT Interview – Stratasys CEO Yoav Zeif details the strategy behind Desktop Metal merger
3D Systems submits third Stratasys takeover offer, worth $2 billion
Stratasys to enter discussions with 3D Systems despite Desktop Metal merger agreement
