Prysmian to acquire Encore for about €3.9 billion in all cash-deal [Seeking Alpha]
Encore Wire Corporation (WIRE)
Last encore wire corporation earnings: 4/28 05:05 pm
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US:NASDAQ Investor Relations:
encorewire.com/investors
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Source: Seeking Alpha
billion, representing a multiple of 8.2x EV/2023A EBITDA and 6.3x EV/2023A EBITDA, including run-rate synergies. The deal represents a premium of approximately 20% to the 30-day volume weighted average share price (VWAP) as of April 12, 2024, and approximately 29% to the 90-day VWAP as of the same date. With the move, Prysmian expands its North American presence, and enhances its portfolio, geographic mix, and exposure to secular growth drivers, benefiting from enhanced product offerings and customer relationships. The transaction is expected to generate €140 million in run-rate EBITDA synergies within 4 years. The transaction will be financed through a mix of cash on Prysmian's balance sheet (€1.1 billion) and newly committed debt facilities (€3.4 billion). Furthermore, based on pro forma aggregated results for the twelve months ended December 2023, the combined group would have posted net sales of over €17.7 billion and adjusted EBITDA of approximately €2.1 billion. Upon
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WIRE
News
- SHAREHOLDER INVESTIGATION: Halper Sadeh LLC Investigates WIRE, AGBAGlobeNewswire
- Encore Wire Co. (NASDAQ: WIRE) is now covered by analysts at StockNews.com. They set a "hold" rating on the stock.MarketBeat
- Encore Wire Reports First Quarter Results [Yahoo! Finance]Yahoo! Finance
- Encore Wire Reports First Quarter ResultsBusiness Wire
- SHAREHOLDER INVESTIGATION: Halper Sadeh LLC Investigates WIRE, RXMD, HRTAccesswire
WIRE
Earnings
- 4/23/24 - Beat
WIRE
Sec Filings
- 4/25/24 - Form 10-Q
- 4/23/24 - Form 8-K
- 4/15/24 - Form DEFA14A
- WIRE's page on the SEC website