DMC Global Still Potential Acquisition Target, Steel Connect Chairman Says
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DMC Global is still a potential acquisition target for Steel Connect, according to Steel Connect's executive chairman, Warren Lichtenstein. Steel Connect, which owns nearly 10% of DMC's stock, previously offered $16.50 per share for DMC and proposed acquiring its DynaEnergetics and NobelClad divisions for $185 million. Despite DMC's announcement to halt marketing these divisions, Steel Connect believes that a transaction would provide greater value for DMC shareholders. DMC shares rose about 3% in recent trading.
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