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

Credit: Prysmian

has finalized the of 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 grid 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.

Add a comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Keep Up to Date with the Most Important News

By pressing the Subscribe button, you confirm that you have read and are agreeing to our Privacy Policy and Terms of Use