Wire and Cable Expo2024 News Flash: Prysmian Acquires Encore Wire for $290.00 Per Share in Cash

Italy's Prysmian has announced its acquisition of Encore Wire, with a merger agreement already in place. Wire and Cable Expo2024 knows that, according to the terms of the transaction, the market valuation of Encore Wire is approximately 3.9 billion euros.

Encore Wire is a manufacturer of copper and aluminum wire and cable, also designing power generation and distribution solutions. With a diverse product range and reasonable prices, Encore Wire reported revenue of about 2.6 billion dollars for the fiscal year 2023, with an EBITDA of 517 million dollars.

The business scopes of Encore Wire and Prysmian are highly complementary. After the acquisition, Prysmian's business scope will be further expanded, and the merged company will be better able to meet the needs of North American customers. Wire and Cable Expo2024 learned that the transaction is expected to generate benefits of 140 million euros within four years after completion.

Massimo Battaini, CEO of Prysmian Group, stated, "With this acquisition, Prysmian will expand its business in North America, enhancing its portfolio and geographical advantages. We look forward to the Encore Wire team joining Prysmian and anticipate a fruitful collaboration in the future. The acquisition of Encore Wire is a milestone moment for Prysmian, which will surely create greater value and more opportunities for shareholders and customers."

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