Steel Connect Calls On DMC Global To Meaningfully Engage Around Acquisition Proposal That Would Provide Certain, Premium Value To Shareholders; Steel Reiterates Proposal To Acquire The Company For $16.50 Per Share In Cash
Portfolio Pulse from Benzinga Newsdesk
Steel Connect has proposed to acquire DMC Global for $16.50 per share, a 51% premium over its current share price. Steel owns 9.8% of DMC and is open to acquiring DMC's DynaEnergetics and NobelClad businesses.
September 17, 2024 | 12:38 pm
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Steel Connect has proposed to acquire DMC Global for $16.50 per share, representing a 51% premium over the current share price. This could lead to a significant short-term increase in DMC's stock price.
The acquisition proposal by Steel Connect at a 51% premium is likely to positively impact DMC Global's stock price in the short term as it represents a significant premium over the current market value. The proposal also indicates Steel's strong interest in DMC's businesses, which could further drive investor interest.
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