DMC Global rejects non-binding proposal from Steel Connect

DMC Global (BOOM) ejected 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 DMC’s board of directors considered the Proposal in consultation with its legal and financial advisors and in accordance with its fiduciary duties. The company said, “After considerable review and deliberation, the Board determined the Proposal undervalues DMC’s business and its potential to drive future risk-adjusted value for all stockholders.”