DMC Global Rejects Takeover Proposal From Steel Connect

Dow Jones

02-12

By Robb M. Stewart

Manufacturing-business owner DMC Global rebuffed the latest takeover bid from Steel Connect as too low.

DMC Global said it rejected Steel Connect's non-binding proposal to buy all the shares in the company it doesn't already own for $10.18 each in cash.

The company said the proposal fails to compensate shareholders for the turnaround in DMC Global's Arcadia business and for its longer-term potential to create value, and that it fails to compensate for any cyclical improvement in its DynaEnergetics business and the steps taken last year to improve the operation.

Steel Connect, a diversified holding company majority-owned by investment firm Steel Partners, already holds about a 9.9% stake in DMC Global.

Steel Connect last May offered to buy all of DMC Global's outstanding shares for $16.50 each in cash, which at the time valued DMC Global at about $330 million. Then in September, Steel Connect offered to buy DMC Global's DynaEnergetics and NobelClad businesses for between $185 million to $200 million in cash and DMC stock that it owns, and in November it proposed buying DMC Global preferred stock.

The series of approaches came after DMC Global in January 2024 announced plans to sell its DynaEnergetics and NobelClad businesses, though it has yet to agree any deal.

DMC Global said its business is stabilizing and that chief-executive search efforts are underway after the November departure of former CEO Michael Kuta. Executive Chairman James O'Leary is serving as interim CEO until a permanent successor is found.

Write to Robb M. Stewart at robb.stewart@wsj.com

(END) Dow Jones Newswires

February 12, 2025 08:08 ET (13:08 GMT)

Copyright (c) 2025 Dow Jones & Company, Inc.

免責聲明：投資有風險，本文並非投資建議，以上內容不應被視為任何金融產品的購買或出售要約、建議或邀請，作者或其他用戶的任何相關討論、評論或帖子也不應被視為此類內容。本文僅供一般參考，不考慮您的個人投資目標、財務狀況或需求。TTM對信息的準確性和完整性不承擔任何責任或保證，投資者應自行研究並在投資前尋求專業建議。

熱議股票

1
2
3
4
5
6
7
8
9
10

{"basename":"/hant","ssrTDKData":{"titleTemplate":"%s - 老虎證券","title":"老虎证券全球投资理财平台| 一站式投资美股新股港股A股","description":"老虎证券助您一站式投资美股，新股，港股，A股等全球金融理财产品。新加坡华人最信赖的在线投资平台，现在加入即享低费用，24/5 无时差炒美股投资理财！","keywords":"老虎證券,老虎證券開戶,老虎券商,老虎證券官網,老虎證券app,tigertrade老虎證券,股票,炒股,新加坡股票交易平臺,投資,投資理財","social":{"ogDescription":"老虎证券助您一站式投资美股，新股，港股，A股等全球金融理财产品。新加坡华人最信赖的在线投资平台，现在加入即享低费用，24/5 无时差炒美股投资理财！","ogImage":"https://c1.itigergrowtha.com/portal5/static/media/og-logo.be62fbe1.png","ogUrl":"https://www.itiger.com/hant/news/2510165374"},"companyName":"老虎證券"},"pageData":{"isMobile":false,"isTiger":false,"isTTM":true,"region":"SGP","license":"TBSG","edition":"fundamental"},"__swrFallback__":{"@#url:\"https://stock-news.skytigris.cn/v3/news\",params:#id:\"2510165374\",edition:\"fundamental\",,,undefined,":{"share":"https://ttm.financial/m/news/2510165374?lang=zh_TW&edition=fundamental","thumbnail":"","is_english":true,"pubTime":"2025-02-12 21:08","share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","id":"2510165374","market":"sg","top_or_hot":-1,"title":"DMC Global Rejects Takeover Proposal From Steel Connect","media":"Dow Jones","content":"<font class=\"NormalMinus1\" face=\"Arial\">\n<pre>\n \n</pre>\n<p>\n  By Robb M. Stewart \n</p>\n<pre>\n \n</pre>\n<p>\n  Manufacturing-business owner <a href=\"https://laohu8.com/S/BOOM\">DMC Global</a> rebuffed the latest takeover bid from <a href=\"https://laohu8.com/S/STCN\">Steel Connect</a> as too low. \n</p>\n<p>\n  DMC Global said it rejected Steel Connect's non-binding proposal to buy all the shares in the company it doesn't already own for $10.18 each in cash. \n</p>\n<p>\n  The company said the proposal fails to compensate shareholders for the turnaround in DMC Global's Arcadia business and for its longer-term potential to create value, and that it fails to compensate for any cyclical improvement in its DynaEnergetics business and the steps taken last year to improve the operation. \n</p>\n<p>\n  Steel Connect, a diversified holding company majority-owned by investment firm Steel Partners, already holds about a 9.9% stake in DMC Global. \n</p>\n<p>\n  Steel Connect last May offered to buy all of DMC Global's outstanding shares for $16.50 each in cash, which at the time valued DMC Global at about $330 million. Then in September, Steel Connect offered to buy DMC Global's DynaEnergetics and NobelClad businesses for between $185 million to $200 million in cash and DMC stock that it owns, and in November it proposed buying DMC Global preferred stock. \n</p>\n<p>\n  The series of approaches came after DMC Global in January 2024 announced plans to sell its DynaEnergetics and NobelClad businesses, though it has yet to agree any deal. \n</p>\n<p>\n  DMC Global said its business is stabilizing and that chief-executive search efforts are underway after the November departure of former CEO Michael Kuta. Executive Chairman James O'Leary is serving as interim CEO until a permanent successor is found. \n</p>\n<pre>\n \n</pre>\n<p>\n  Write to Robb M. Stewart at robb.stewart@wsj.com \n</p>\n<pre>\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  February 12, 2025 08:08 ET (13:08 GMT)\n</p>\n<p>\n  Copyright (c) 2025 Dow Jones &amp; Company, Inc.\n</p>\n</font>","source":null,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>DMC Global Rejects Takeover Proposal From Steel Connect</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nDMC Global Rejects Takeover Proposal From Steel Connect\n</h2>\n<h4 class=\"meta\">\n<div class=\"head\" \">\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Dow Jones </p>\n<p class=\"h-time smaller\">2025-02-12 21:08</p>\n</div>\n</div>\n</h4>\n</header>\n<article>\n<font class=\"NormalMinus1\" face=\"Arial\">\n<pre>\n \n</pre>\n<p>\n  By Robb M. Stewart \n</p>\n<pre>\n \n</pre>\n<p>\n  Manufacturing-business owner <a href=\"https://laohu8.com/S/BOOM\">DMC Global</a> rebuffed the latest takeover bid from <a href=\"https://laohu8.com/S/STCN\">Steel Connect</a> as too low. \n</p>\n<p>\n  DMC Global said it rejected Steel Connect's non-binding proposal to buy all the shares in the company it doesn't already own for $10.18 each in cash. \n</p>\n<p>\n  The company said the proposal fails to compensate shareholders for the turnaround in DMC Global's Arcadia business and for its longer-term potential to create value, and that it fails to compensate for any cyclical improvement in its DynaEnergetics business and the steps taken last year to improve the operation. \n</p>\n<p>\n  Steel Connect, a diversified holding company majority-owned by investment firm Steel Partners, already holds about a 9.9% stake in DMC Global. \n</p>\n<p>\n  Steel Connect last May offered to buy all of DMC Global's outstanding shares for $16.50 each in cash, which at the time valued DMC Global at about $330 million. Then in September, Steel Connect offered to buy DMC Global's DynaEnergetics and NobelClad businesses for between $185 million to $200 million in cash and DMC stock that it owns, and in November it proposed buying DMC Global preferred stock. \n</p>\n<p>\n  The series of approaches came after DMC Global in January 2024 announced plans to sell its DynaEnergetics and NobelClad businesses, though it has yet to agree any deal. \n</p>\n<p>\n  DMC Global said its business is stabilizing and that chief-executive search efforts are underway after the November departure of former CEO Michael Kuta. Executive Chairman James O'Leary is serving as interim CEO until a permanent successor is found. \n</p>\n<pre>\n \n</pre>\n<p>\n  Write to Robb M. Stewart at robb.stewart@wsj.com \n</p>\n<pre>\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  February 12, 2025 08:08 ET (13:08 GMT)\n</p>\n<p>\n  Copyright (c) 2025 Dow Jones &amp; Company, Inc.\n</p>\n</font>\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"STCN","symbol_name":"Steel Connect","start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2510165374","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2510165374","pubTimestamp":1739365680,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Dow Jones","introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"summary":"Manufacturing-business owner DMC Global rebuffed the latest takeover bid from Steel Connect as too low.DMC Global said it rejected Steel Connect's non-binding proposal to buy all the shares in the company it doesn't already own for $10.18 each in cash.The company said the proposal fails to compensate shareholders for the turnaround in DMC Global's Arcadia business and for its longer-term potential to create value, and that it fails to compensate for any cyclical improvement in its DynaEnergetics business and the steps taken last year to improve the operation.Steel Connect, a diversified holding company majority-owned by investment firm Steel Partners, already holds about a 9.9% stake in DMC Global.Steel Connect last May offered to buy all of DMC Global's outstanding shares for $16.50 each in cash, which at the time valued DMC Global at about $330 million. Then in September, Steel Connect offered to buy DMC Global's DynaEnergetics and NobelClad businesses for between $185 million to $20","collect":0,"end_time":0,"defaultTopTitle":"","property":[],"viewcount":null,"language":"en","relate_stocks":{"STCN":"Steel Connect","BK4106":"数据处理与外包服务","BOOM":"DMC Global","BK4226":"数据处理及外包服务","BK4206":"工业集团企业","BK4179":"石油天然气设备与服务","SPLP":"Steel Partners Holdings LP Ltd"},"translate_title":"DMC Global拒绝Steel Connect的收购提议","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"BOOM":1,"SPLP":0.9,"STCN":1},"content_text":"By Robb M. Stewart \n\n\n \n\n\n  Manufacturing-business owner DMC Global rebuffed the latest takeover bid from Steel Connect as too low. \n\n\n  DMC Global said it rejected Steel Connect's non-binding proposal to buy all the shares in the company it doesn't already own for $10.18 each in cash. \n\n\n  The company said the proposal fails to compensate shareholders for the turnaround in DMC Global's Arcadia business and for its longer-term potential to create value, and that it fails to compensate for any cyclical improvement in its DynaEnergetics business and the steps taken last year to improve the operation. \n\n\n  Steel Connect, a diversified holding company majority-owned by investment firm Steel Partners, already holds about a 9.9% stake in DMC Global. \n\n\n  Steel Connect last May offered to buy all of DMC Global's outstanding shares for $16.50 each in cash, which at the time valued DMC Global at about $330 million. Then in September, Steel Connect offered to buy DMC Global's DynaEnergetics and NobelClad businesses for between $185 million to $200 million in cash and DMC stock that it owns, and in November it proposed buying DMC Global preferred stock. \n\n\n  The series of approaches came after DMC Global in January 2024 announced plans to sell its DynaEnergetics and NobelClad businesses, though it has yet to agree any deal. \n\n\n  DMC Global said its business is stabilizing and that chief-executive search efforts are underway after the November departure of former CEO Michael Kuta. Executive Chairman James O'Leary is serving as interim CEO until a permanent successor is found. \n\n\n \n\n\n  Write to Robb M. Stewart at robb.stewart@wsj.com \n\n\n \n\n\n  (END) Dow Jones Newswires\n\n\n  February 12, 2025 08:08 ET (13:08 GMT)\n\n\n  Copyright (c) 2025 Dow Jones & Company, Inc.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"-1","news_tag":"corporation","news_rank":0,"symbols":[],"gpt_button":0,"code":"91000000","status":"200"}}}