Prysmian Completes Acquisition of Encore Wire
Prysmian, an Italian company and world leader in the energy and telecom cables and systems industry, announces that it has completed the acquisition of Encore Wire Corporation. In accordance with the terms of the merger agreement signed by the parties on April 14, 2024, Prysmian has acquired for cash all of the outstanding common shares of Encore Wire for $290.00 per share.
The acquisition will consolidate Prysmian’s leadership position in North America. Prysmian will benefit from increased cross-selling opportunities, as well as the efficiency and innovation of Encore Wire’s unique manufacturing, distribution and service model. Furthermore, following the transaction, the relevance of the North American business in Prysmian’s geographical distribution will increase.
With the integration of Encore Wire, Prysmian will be even better positioned to drive the acceleration of electrification and digital transformation trends in North America, supporting data center growth and power grid upgrades.
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