(Adds price movement for DMC Global shares in first paragraph, estimated value of deal in second paragraph.)
DMC Global (BOOM) was trading almost 9% higher on Monday, easing from an earlier 15% gain that followed the metals fabricator Monday acknowledging a non-binding cash buyout offer from Steel Connect for $10.18 apiece.
The deal values DMC Global at around $205 million, based on its slightly more than 20 million shares outstanding. The company said its board was reviewing the proposal, adding it would not comment until that review is complete.
Steel Connect did not immediately respond to MT Newswires' request for comment.
Price: 8.64, Change: +0.72, Percent Change: +9.03
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