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Monday, December 4, 2017

=General Cable (BGC) to be acquired by Prysmian Group for $30.00/sh

The Prysmian Group is an Italian multinational corporation headquartered in Milan that manufactures electric power transmission and telecommunications cables and systems. It is the largest manufacturer of cables in the world measured by revenues.

General Cable to be acquired by Prysmian Group for $30.00 per share 
  • Prysmian Group and General Cable Corp announced that they have entered into a definitive merger agreement under which Prysmian will acquire General Cable for $30.00 per share in cash.
  • The transaction values General Cable at approximately $3 billion, including debt and certain other General Cable liabilities, and represents a premium of approximately 81% to the General Cable closing price of $16.55 per share on July 14, 2017, the last day of trading before General Cable announced its review of strategic alternatives.
  • The transaction, which has been unanimously approved by each company's Board of Directors and recommended to its shareholders by General Cable's Board of Directors, is expected to close by the third quarter of 2018, subject to the approval of General Cable's shareholders representing at least a majority of the outstanding shares, regulatory approvals, and other customary conditions


General Cable Corporation is engaged in the development, design, manufacture, marketing and distribution of copper, aluminum and fiber optic wire and cable products for use in the energy, industrial, construction, specialty and communications markets. The Company's segments include North America, Europe, Latin America, and Africa/Asia Pacific. The Company produces and sells to a range of end markets, including markets for electric utility, electrical infrastructure, communications, construction and rod mill products. As of December 31, 2016, the North America segment included 17 manufacturing facilities across the region. The Europe segment consists of six manufacturing facilities across the region. The Latin America segment consists of six manufacturing facilities across the region. The Africa/Asia Pacific segment consists of four manufacturing facilities across the segment.

Key stats and ratios

Q3 (Sep '17)2016
Net profit margin-1.43%-2.45%
Operating margin0.08%-0.47%
EBITD margin-2.18%
Return on average assets-2.50%-4.02%
Return on average equity-47.38%-49.23%

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