By Denny Jacob
Nano Dimension and Desktop Metal disclosed that proxy advisory firm Institutional Shareholder Services recommended that the latter company's shareholders vote to approve their merger.
Shareholders of Nano Dimension, a 3D printing company, aren't required to approve the merger.
The companies said the proxy advisory firm wrote that the sales process "suggests the offer is likely the best available at this time, shareholders are receiving a premium, the implied valuation appears fair, and the cash consideration provides liquidity and immediate value."
Nano Dimension and Desktop Metal, a metal 3D printing manufacturer, in July said they reached a deal that could be as low as $135 million or go as high as $183 million. Nano Dimension said at the time it intends to finance the deal with cash on hand.
Desktop Metal previously agreed to merge with 3D printing company Stratasys but that ultimately fell apart last year after Stratasys received a series of competing buyout offers from Nano Dimension and rival 3D Systems.
Write to Denny Jacob at denny.jacob@wsj.com
(END) Dow Jones Newswires
September 23, 2024 08:27 ET (12:27 GMT)
Copyright (c) 2024 Dow Jones & Company, Inc.
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