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Encore Wire

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business1 year ago•2 min saved

Prysmian's $4.2 Billion Acquisition of Encore Wire

Prysmian, the world's largest cablemaker, has announced a $4.15 billion deal to acquire US firm Encore Wire, aiming to strengthen its position in the North American market. The acquisition, which represents a 11% premium to Encore Wire's stock price, is expected to generate significant synergies and boost Prysmian's earnings per share by about 30%. The deal is set to be finalized in the second half of 2024 and will be financed through a combination of cash and debt facilities.

via Yahoo Finance|

#acquisition #business #cable-industry

business-mergers-and-acquisitions1 year ago•5 min saved

"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.

via Prysmian Group|

#acquisition #business #business-mergers-and-acquisitions