09:27 AM EDT, 09/17/2024 (MT Newswires) -- DMC Global ( BOOM ) was urged Tuesday by minority shareholder Steel Connect to "meaningfully engage" with its offer to acquire the shares in the company that it does not already own for $16.50 per share in cash.

In a public letter, Steel Connect accused the DMC board of taking actions that are "detrimental to shareholders," including "refusing to allow us to show our support for the stock by acquiring additional shares" and "failing to provide any updates about the company's strategic alternatives."

Steel Connect said it owns 9.8% of DMC Global ( BOOM ) shares. It's acquisition proposal was made on May 31.

DMC Global ( BOOM ) shares were more than 13% higher in premarket trading.

DMC Global ( BOOM ) did not immediately reply to MT Newswires' request for comment.

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