Nano Dimension has announced that the waiting period under the United States Department of Justice (DOJ) Hart-Scott-Rodino Antitrust Improvements Act of 1976 has expired in connection with its definitive agreement to acquire Desktop Metal.
The company revealed it had reached an agreement to acquire Desktop Metal, subject to shareholder approval and regulatory approvals, on July 3, 2024.
Nearly two months on, the companies have overcome a significant regulatory hurdle in its bid to close the transaction.
The Hart-Scott-Rodino Act is a U.S. federal law that requires companies to notify the Federal Trade Commission and the DOJ about certain proposed mergers and acquisitions. They must then observe a waiting period prior to closing the transaction, which provides the U.S. antitrust authorities the opportunity to review the transaction. As a result of the expiration of the waiting period, no further regulatory review by U.S. antitrust authorities is required in connection with the acquisition.
The deal continues to be subject to the satisfaction of other customary closing conditions, including the approval of Desktop Metal's shareholders. Nano Dimension and Desktop Metal believe, however, that this is a 'notable step' towards completing the acquisition deal. The two companies say the targeted Q4/2024 closing timeline remains on schedule.
After announcing the agreement in July, the CEOs of Nano Dimension and Desktop Metal, Yoav Stern and Ric Fulop, spoke to TCT to explain why the leadership of both companies decided a business combination was the best next step.
