From Investing.com: 2024-04-15 00:15:18

Cable manufacturer Encore Wire Corporation is set to be acquired by Italian rival Prysmian SpA for $4.6 billion. Prysmian will pay $290 per share, a 10% premium to Encore’s last closing price. Encore’s board unanimously approved the deal, which is expected to close in the second half of 2024 pending approvals. Prysmian previously acquired General Cable for $3 billion in 2018. As the world’s largest cable maker, Prysmian has benefited from the global shift towards clean energy and digital advancements, focusing on transmission cables for electricity grids, data centers, grid management, and EV charging.



Read more at Investing.com: Cable maker Prysmian to buy Encore Wire for $4.6 billion By Investing.com