Stratasys-Objet merger gets shareholder approval

MINNEAPOLIS—Stockholders of 3D printers and production systems manufacturer Stratasys, Inc. voted to approve the proposed merger with competitor Objet Ltd.

Stratasys and Objet last April entered into a definitive merger agreement under which the companies will combine in an all-stock transaction.

In accordance with the terms of the merger agreement, Stratasys will merge with a subsidiary of Objet, and each former Stratasys common share will be converted into the right to receive one newly issued share of the combined company’s common stock.

The transaction is expected to close in the coming weeks and the combined company expects to save between $7 million and $8 million of annual overhead expenses, as well as $3 million to $4 million in annual tax savings.