The Donerail Group Reiterates Intent To Vote Against Stratasys' Proposed Acquisition Of Desktop Metal And Highlights Board's Complete Failure As Fiduciaries
Portfolio Pulse from Benzinga Newsdesk
The Donerail Group, a large shareholder of Stratasys Ltd. (NASDAQ:SSYS), has reiterated its intent to vote against Stratasys' proposed acquisition of Desktop Metal. Donerail has expressed serious concerns about the strategic and financial merits of the acquisition and the Stratasys Board's disregard of its fiduciary obligations. The group also highlighted the recommendation by Institutional Shareholder Services Inc. (ISS) that Stratasys shareholders vote against the acquisition. Donerail believes there are other viable, attractive alternatives to the Desktop Metal acquisition.
September 21, 2023 | 8:44 pm
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Stratasys' proposed acquisition of Desktop Metal is facing opposition from The Donerail Group, a large shareholder. This could potentially impact the completion of the acquisition and may lead to volatility in Stratasys' stock price.
The Donerail Group's opposition to the proposed acquisition of Desktop Metal by Stratasys could potentially derail the deal. This uncertainty may lead to volatility in Stratasys' stock price as investors react to the potential impact on the company's future growth and strategic direction. The fact that ISS, a leading proxy advisory firm, also recommends voting against the acquisition further strengthens the potential negative impact on Stratasys' stock.
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