M&A Battle Ends as Desktop Metal and Nano Dimension Move Closer to Combination
- Desktop Metal shareholders voted to approve the merger with Nano Dimension
- Nano Dimension serves over 2,000 customers in various industries
- The deal is expected to close in Q4 after regulatory approvals
- 3D Systems Corp. also tried to acquire Desktop Metal briefly
- Desktop Metal’s founder supports the Nano Dimension merger
The proposed merger between 3D printing companies Nano Dimension and Desktop Metal moved closer to completion after Desktop Metal shareholders voted in favor of the deal. With over 60% of outstanding shares approving, the two companies have successfully outmaneuvered rival Stratasys Ltd and 3D Systems Corp. in their M&A battle. Nano Dimension expects Q3 revenue of $14.7 million, up 21% YoY. The deal is expected to close in Q4 after regulatory approvals.
Factuality Level: 8
Factuality Justification: The article provides accurate and objective information about the merger of Nano Dimension Ltd. and Desktop Metal Inc., including details on shareholder votes, the history of M&A attempts, and the expected benefits of the deal. It also includes relevant financial data such as revenue growth and stock performance. The only potential issue is the comparison to S&P 500 index performance, which may not be directly comparable due to differences in industries.
Noise Level: 4
Noise Justification: The article provides relevant information about the merger of two 3-D printing companies and their respective markets, as well as financial performance. However, it lacks in-depth analysis or exploration of long-term trends or consequences of the deal on the industry. It also does not offer significant actionable insights or new knowledge for readers.
Public Companies: Nano Dimension Ltd. (NNDM), Desktop Metal Inc. (DM), Stratasys Ltd (SSYS), 3D Systems Corp. (DDD)
Key People: Ric Fulop (Founder and Chief Executive of Desktop Metal)
Financial Relevance: Yes
Financial Markets Impacted: Yes
Financial Rating Justification: The article discusses a merger between two 3-D printing companies, Desktop Metal and Nano Dimension, which impacts the financial markets as shareholders voted to approve the deal. It also mentions the stock performance of both companies and their place in the 3-D printing industry.
Presence Of Extreme Event: No
Nature Of Extreme Event: No
Impact Rating Of The Extreme Event: No
Extreme Rating Justification: There is no mention of an extreme event in the text.
Move Size: No market move size mentioned.
Sector: Technology
Direction: Up
Magnitude: Medium
Affected Instruments: Stocks
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