Demo Account   Live Account  

Newsroom

  • Share:

Cable maker Prysmian to buy Encore Wire for $4.6 billion

Investing.com-- Cable manufacturer Encore Wire Corporation (NASDAQ:WIRE) said on Monday it had entered a definitive agreement with bigger Italian peer Prysmian SpA (BIT:PRY) to be acquired for about $4.6 billion.

Pysmian will pay $290 in cash for each share in Encore, representing a premium of about 10% to Encore’s last close on Friday. Based on Investing.com data, the per share figure values Encore at about $4.6 billion. 

Encore said its board of directors had unanimously approved the deal and that it recommended the takeover to its shareholders. The deal is expected to close in the second half of 2024, barring shareholder and regulatory approval. 

Encore Wire marks Prysmian's second major U.S. acquisition in recent years. The firm had bought General Cable for about $3 billion in 2018.

Prysmian- the world's largest cable maker- has benefited greatly from a global push towards cleaner energy and the digital age.

The firm produces transmission cables that are crucial in creating electricity grids, and had last year announced a push into further its lead in the cable industry and strengthen its position in areas including data centers, grid management and EV charging.

Begin trading today! Create an account by completing our form

Privacy Notice

At One Financial Markets we are committed to safeguarding your privacy.

Please see our Privacy Policy for details about what information is collected from you and why it is collected. We do not sell your information or use it other than as described in the Policy.

Please note that it is in our legitimate business interest to send you certain marketing emails from time to time. However, if you would prefer not to receive these you can opt-out by ticking the box below.

Alternatively, you can use the unsubscribe link at the bottom of the Demo account confirmation email or any subsequent emails we send.

By completing the form and downloading the platform you agree with the use of your personal information as detailed in the Policy.

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 71.4% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

Back to top

English Footer

Office network

One Financial Markets is the trading name of Axi Financial Services (UK) Ltd, a company registered in England with company number 6050593. Axi Financial Services (UK) Ltd is authorised and regulated by the Financial Conduct Authority in the UK (under firm reference number 466201)

The information on this site is not directed at residents of the United States, Belgium, Poland or any particular country outside the UK and is not intended for distribution to, or use by, any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.

www.onefinancialmarkets.com is owned and operated by Axi Financial Services (UK) Ltd.

Award winning broker
We have been presented with a number of awards that recognise the quality of our service and dedication to our clients :

Best FSA Regulated Broker
Saudi Money Expo

Best Education Product
Saudi Money Expo

Best Broker - Online Trading
IAIR Awards

Best Institutional Broker
Saudi Money Expo

Best FX Services Broker
CN Forex

Top International
FX Broker 2015
Saudi Money Expo

Broker of the Year
Online Trading – Middle East
IAIR Awards

Best Forex
Customer Service 2018
JFEX Awards

We accept the following payment methods:

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 71.4% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.