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Prysmian to Acquire General Cable for $30.00 Per Share in Cash

Prysmian to Acquire General Cable for $30.00 Per Share in Cash

MILAN & HIGHLAND HEIGHTS, Ky.–(BUSINESS WIRE)–Prysmian Group (BIT: PRY) and General Cable Corporation (NYSE: BGC) today announced that they have entered into a definitive merger agreement under which Prysmian will acquire General Cable for $30.00 per share in cash. The transaction values General Cable at approximately $3 billion, including debt and certain other General Cable liabilities, and represents a premium of approximately 81% to the General Cable closing price of $16.55 per share on July 14, 2017, the last day of trading before General Cable announced its review of strategic alternatives. READ MORE…