Desktop Metal Judge Orders Nano to Buy, Triggers Stock Swing (1)

Nano Dimension Inc. must close its $183 million acquisition of 3D printing rival Desktop Metal Inc., a Delaware judge ruled Tuesday.

The decision by Chancellor Kathaleen St. J. McCormick cited a “hell-or-high-water” clause in the merger agreement. Israel-based Nano breached that provision by working to tank regulatory approval from the Committee on Foreign Investment in the United States after its second-largest investor, Murchinson Ltd., took over its board and sidelined the previous leadership team, McCormick said. The Canadian hedge fund allegedly preferred to wait for Desktop to become insolvent before buying it out of bankruptcy at a steep ...