Prysmian Buys Encore Wire for €3.9 Billion, Its Largest Deal [BNN Bloomberg (Canada)]
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
Company Research
Source: BNN Bloomberg
The Italian cables maker is seeking to enhance its US presence and enter the country's residential construction sector. Encore Wire produces copper and aliminum wires and cables for residential, commercial and industrial buildings. Prysmian will pay $290 per share in cash to acquire the Texas-based company, according to a statement Monday. It's the “largest deal” ever done by the company, designated Chief Executive Officer Massimo Battaini said in a conference call, adding that the main element for the acquisition is the portfolio complementarity of Encore Wire. As a result, North America will become “the most contributive region in terms of Ebitda,” he said. Prysmian shares rose as much as 6.5% in Milan trading to a record high. According to Bloomberg calculations, the bid represents a premium of about 11% compared to Encore Wire Friday's market close. The purchase, which is expected to close in the second part of this year and is subjected to the approval of Encore Wire inv
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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