US company sells itself at solid premium

Prysmian has taken over a sought-after cable competitor for close to USD 3 billion, thus strengthening its presence on the North American market. 

Photo: Prysmian

Italian cable manufacturer Prysmian is buying General Cable. The deal is expected to be carried out in the third quarter next year, when the necessary authorities have approved it and majority support is secured from the US cable manufacturer's shareholders, announces Prysmian.

"The acquisition of General Cable represents a landmark moment for Prysmian Group and a strategic and unique opportunity to create value for our shareholders and customers," said Valerio Battista, Prysmian Group CEO.

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