Prysmian, maxi acquisition worth 3.9 billion

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Prysmian lifts the veil on a maxi M&AS operation. The Italian company, the largest cable manufacturer in the world, will acquire Encore Wire for a value of approximately 3.9 billion euros (4.15 billion dollars). The price represents an 11% premium to the stock’s close Friday at $260.98.

The transaction will allow Prysmian to increase its exposure to North America and broaden its product offering.

Prysmian will finance the transaction through a mix of 1.1 billion euros in cash and new debt lines of 3.4 billion euros. The transaction has been approved by the boards of directors of each company and is expected to close in the second half of 2024, subject to regulatory and shareholder approvals.

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