Nano Dimension Re-Affirms They Are Voting "Against" Stratasys' Merger With Desktop Metal; Part Of Growing Consensus Along With Large Shareholder, Donerail, And Proxy Advisor, ISS
Portfolio Pulse from Benzinga Newsdesk
Nano Dimension (NNDM) has reaffirmed its opposition to the merger between Stratasys (SSYS) and Desktop Metal (DM), joining a growing consensus that includes large shareholder Donerail and proxy advisor ISS. Critics argue the deal will be highly dilutive, requiring Stratasys to pay a premium and provide financial support to Desktop Metal, while offering limited upside. They also accuse the Stratasys board of governance malpractice for approving a deal to issue shares at less than half the price of a prior all-cash offer, which they rejected.
September 22, 2023 | 1:17 pm
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NEUTRAL IMPACT
Nano Dimension's opposition to the Stratasys-Desktop Metal merger could potentially influence other shareholders, potentially leading to a rejection of the deal.
As a vocal opponent of the merger, Nano Dimension's stance could potentially influence other shareholders' votes. However, the direct impact on Nano Dimension's stock price is uncertain.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 75
NEGATIVE IMPACT
The potential rejection of the merger with Stratasys due to criticism could impact Desktop Metal's financial support and stock price.
If the merger with Stratasys is rejected due to the growing criticism, it could impact Desktop Metal's financial support and negatively affect its stock price.
CONFIDENCE 90
IMPORTANCE 85
RELEVANCE 100
NEGATIVE IMPACT
Criticism of the proposed merger with Desktop Metal, including from large shareholder Donerail and proxy advisor ISS, could lead to a rejection of the deal, potentially impacting Stratasys' stock price.
The criticism of the merger, including from large shareholder Donerail and proxy advisor ISS, could lead to a rejection of the deal. This could negatively impact Stratasys' stock price in the short term.
CONFIDENCE 90
IMPORTANCE 85
RELEVANCE 100