Prysmian Completes Acquisition of Texas-Based Encore Wire for $290 Per Share

has finalized the of Encore Wire Corporation, in accordance with the terms of their merger agreement. The deal, valued at $290 per share in cash, sees Prysmian acquiring all outstanding shares of Encore Wire's common stock.

The acquisition is expected to yield synergies through enhanced cross-selling opportunities and operational efficiencies within Encore Wire's unique production and distribution processes. It also strengthens Prysmian's presence in , bolstering its capability to drive electrification and digital transformation across the region, including advancements in data centers and power upgrades.

, CEO of Prysmian, highlighted the strategic fit between the two companies: “The complementary fit of Encore Wire with Prysmian's existing North American business positions us to better serve customers in this dynamic market. We are well-prepared to capture growth opportunities driven by digitalization and energy infrastructure.”

Encore Wire's CEO, Daniel Jones, expressed optimism about the merger: “Encore Wire and Prysmian are highly complementary organizations. We look forward to leveraging our combined strengths to enhance product offerings and deepen customer relationships within a larger global framework.”

Following the completion of the transaction, Encore Wire transitions to a privately held entity, with its shares no longer listed on NASDAQ or other public markets.

SUBSCRIBE

Related Articles

Popular Categories