With the completion of the transaction, General Cable has become a privately held company, and therefore its shares will no longer be listed on the NYSE or any other public market.
June 6, 2018
Prysmian Group and General Cable Corporation on June 6 announced that Prysmian has completed its acquisition of General Cable. Pursuant to the terms of the merger agreement entered into among the parties on December 3, 2017, Prysmian has acquired all the outstanding shares of General Cable common stock for USD 30.00 per share in cash.
Earlier Prysmian Group had signed a definitive agreement to acquire General Cable for USD 30 per share in cash, in a deal that values General Cable at USD 3 billion, including debt and certain liabilities. The transaction, which has already been approved by the boards of both parties, was expected to close by the third quarter of 2018, which it did.
Prysmian Group is world leader in the energy and telecom cable systems industry. With almost 140 years of experience, sales of about USD 7.9 billion in 2017, over 21,000 employees across 50 countries and 82 plants, the Group is strongly positioned in high-tech markets and offers the widest possible range of products, services, technologies and know-how.
General Cable, with headquarters in Highland Heights, Kentucky, is a global leader in the development, design, manufacture, marketing and distribution of aluminum, copper and fiber optic wire and cable products for the energy, communications, automotive, industrial, construction and specialty segments.
