Nano Dimension (NNDM) said Monday that proxy advisory firm Institutional Shareholder Services had recommended Desktop Metal (DM) shareholders to vote in favor of the merger agreement with the company.
The proxy advisory firm recommended shareholders' support, stating that the offer is likely the best available, with a fair valuation, premium, and immediate cash value.
ISS also noted a 16.7% rise in the acquirer's stock following the announcement of the merger agreement, suggesting potential downside risk if the deal is not approved.
Desktop Metal shareholders' vote represents one "major milestone" in finalizing the merger, while Nano Dimension shareholders are not required to approve the merger, the companies said.
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