21 APRIL 2024AlCircle.com
Global cabling solutions provider Prysmian strikes deal to acquire Encore Wire
Edited by : Rupankar Majumder
4 min read
On April 15, 2024, the multinational company with headquarters in Milan, specialising in producing electrical cable Prysmian, announced that it has entered into a definitive merger agreement under which it will acquire Encore Wire for $290.00 per share in cash. The Transaction represents a premium of approximately 20 per cent to the 30-day volume weighted average share price (VWAP) as of Friday, April 12, 2024, and approximately 29 per cent to the 90-day VWAP as of the same date.
At the transaction terms, Encore Wire’s implied Enterprise Value is approximately €3.9 billion, representing a multiple of 8.2x EV/2023A EBITDA and 6.3x EV/2023A EBITDA, including run-rate synergies.
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