"Prysmian's $4.2 Billion Acquisition of Encore Wire Sends Shares Soaring"
TL;DR
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.
Topics:businessbusiness-mergers-and-acquisitions#acquisition#business#business-mergers-and-acquisitions#encore-wire#merger#prysmian
- Prysmian to acquire Encore Wire for $290.00 per share in cash Prysmian Group
- Cable giant Prysmian to buy Encore Wire in $4.2 billion deal Yahoo Finance
- Prysmian Shares Rise Following Encore Wire Acquisition MarketWatch
- Encore Wire to Be Acquired by Prysmian for $290.00 Per Share in Cash Business Wire
- Prysmian Buys Encore Wire for €3.9 Billion, Its Largest Deal Bloomberg
Want the full story? Read the original reporting
Read on Prysmian Group