DMC Global acknowledges non-binding proposal from Steel Connect

DMC Global (BOOM) acknowledged receipt of a non-binding proposal from Steel Connect to acquire all of the outstanding shares of common stock of the Company, not already owned by Steel Connect, for $10.18 per share in cash. The company said, “DMC’s board of directors will consider the Proposal in consultation with its legal and financial advisors and in accordance with its fiduciary duties. In the meantime, stockholders need not take any action. The Proposal is subject to further due diligence by Steel Connect. There can be no assurance that any definitive agreement will be executed, or that the Proposal or any other transaction will be approved or consummated. The Company will have no further comment on the Proposal until the Board has completed its review.”