June 2 (Reuters) - Stratasys Ltd (SSYS.O) said on Thursday that it had received an unsolicited buyout proposal from rival 3D Systems Corp (DDD.N), valuing the industrial 3D printer at about $1.21 billion.
Stratasys shares were up 10.1% at $16.04, while 3D Systems was up 2.6% at $8.55 in premarket trading on Friday.
3D Systems has proposed to acquire Stratasys for $7.50 in cash and 1.2507 of its newly issued stock for each share of the target company, which translates to $17.92 on a per-share basis.
Stratasys said its board would "carefully review" the newly received non-binding proposal, adding that the Desktop Metal deal is still expected to close in the fourth quarter of this year.
3D Systems on Friday confirmed its bid for Stratasys and said that if the deal goes through, it will bring $100 million in cost synergies.
Persons:
Stratasys, Jaiveer Singh, Shilpi Majumdar, Anil D'Silva, Shounak
Organizations:
Stratasys, 3D Systems Corp, Systems, Metal Inc, Thomson
Locations:
Rehovot, Israel, Bengaluru