"Prysmian's $4.2 Billion Acquisition of Encore Wire Sends Shares Soaring"

Prysmian has entered into a definitive merger agreement to acquire Encore Wire for $290.00 per share in cash, representing a premium of approximately 20% to the 30-day volume weighted average share price. The acquisition is valued at approximately €3.9 billion and is expected to enhance Prysmian's exposure to North America and generate significant run-rate EBITDA synergies. The transaction is anticipated to close in the second half of 2024, subject to regulatory approvals and other customary closing conditions.