All articles tagged with #prysmian
The article discusses the manufacturing and deployment of high-capacity undersea power cables, crucial for global energy infrastructure, highlighting Prysmian's Finnish plant and the use of specialized ships like the Monna Lisa to lay cables for international power transfer and renewable energy projects, amid rising demand and supply chain challenges.
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.
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.