Nano Dimension has announced the hiring of Lazard Ltd. as an advisor for strategic mergers and acquisitions (M&A), and to address Bistricer/Murchinson Ltd’s challenges to the company’s value creation strategy for all shareholders.
Lazard has been working with Nano Dimension on potential transformative acquisitions and growth maximisation strategies, further to the company’s 'previously announced M&A master plan', complementing advice provided to the company by other advisors.
Nano Dimension says that it is remaining focused on its primary mission, accelerating the growth of the business, leveraging its position on the market and seizing organic and inorganic opportunities for meaningful shareholder value creation.
Explained: The power struggle at Nano Dimension
Yoav Stern, Chairman and Chief Executive Officer of Nano Dimension said: “Our board of directors and management are excited to enter this new chapter of Nano Dimension’s journey. The Company’s mission continues to be to create the clear AM market leader and to transform AM, AM Electronics and adjacent industrial non-digitized sectors into an environmentally friendly and economically efficient additive manufacturing Industry 4.0.
“2022 was a turning point for our Company, both from a strategic and financial standpoint and we do not want Bistricer/Murchinson’s efforts to prematurely undermine the maximization of long-term value creation for all shareholders. Looking forward we are focused on reinvesting the capital that has been generated from our ongoing efforts in order to accelerate our development and growth, advance toward profitability and capture highly strategic and value-creating M&A consolidation opportunities.”
Nano Dimension adopted a shareholder rights plan last week, a move that is designed to reduce the likelihood that any entity, person or group would gain control of, or significant influence over, Nano Dimension. The plan, unanimously approved by the company’s Board of Directors, expires after 12 months.
Meanwhile, Murchinson has announced a Special General Meeting of Nano Dimension Shareholders on Monday, March 20, 2023, with the company again reiterating its desire for the Nano Dimension Board of Directors to be 'reshaped.'
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