DMC Global Rejects Steel Connect Acquisition Offer

MT Newswires Live

02-12

DMC Global (BOOM) said Wednesday it rejected Steel Connect's non-binding proposal to buy all remaining shares of DMC for $10.18 per share in cash.

After careful review and deliberation, the company said its board concluded that the offer undervalues DMC's business and its potential to drive future risk-adjusted value for all stockholders.

"From the time of its initial proposal to acquire the Company for $16.50 per share, to the delivery of its latest proposal for $10.18 per share, Steel Connect has repeatedly demonstrated it is not serious about engaging in good faith with DMC", DMC Global said.

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