Stratasys Inc. (SSYS) , a manufacturer of 3D printers for rapid prototyping, and Objet Ltd. announced that they have been informed by the Committee on Foreign Investment in the United States or "CFIUS" that it has completed its review of the proposed merger and has given formal approval of the transaction.
The companies have signed a Letter of Assurance with the U.S. Government that addresses certain national security concerns with the proposed transaction.
The companies have agreed to modify certain business processes that the U.S. Government believes could potentially create national security issues in the future. The companies believe these business modifications are reasonable and will not materially affect the business of the combined company.Stratasys and Objet intend to close the merger on or before December 6, 2012.
In April, Stratasys had said it agreed to merge with a subsidiary of Israel's privately held rival Objet Ltd. in an all-stock deal to form a combined entity worth about $1.4 billion.
The new combined entity will be known as Stratasys Ltd. Each Stratasys shareholders will receive one share of the new company. Following the deal closure, Stratasys shareholders would own 55 percent and Objet shareholders would own 45 percent of the combined company.
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