Nano Dimension against proposed merger of Stratasys and Desktop Metal

Nano Dimension, the largest shareholder in 3D printer manufacturer Stratasys, has spoken out against Stratasys’ planned merger with Desktop Metal. In a statement, Nano Dimension announced that it will vote against the merger at the upcoming extraordinary general meeting.

The company is also calling on other shareholders to cast their votes against the deal. Nano Dimension currently holds about 14.1 percent of Stratasys shares, making it the largest shareholder.

Stratasys had previously ended merger talks with rival 3D Systems and reiterated its intention to pursue a merger with Desktop Metal. According to Nano Dimension, however, this merger would result in large value losses and threaten Stratasys’ profitability.

Nano Dimension CEO Yoav Stern said the opportunity to vote on the merger at the annual shareholders meeting is approaching. He said he and Nano Dimension are deeply convinced that the merger would be highly dilutive and destroy significant value. Therefore, they want to send a signal with a no vote.