Prysmian S.p.A. (PRY.MI)
| Previous close | 50.22 |
| Open | 49.79 |
| Bid | 50.66 x 0 |
| Ask | 50.66 x 0 |
| Day's range | 49.30 - 50.94 |
| 52-week range | 33.26 - 52.38 |
| Volume | |
| Avg. volume | 788,833 |
| Market cap | 13.749B |
| Beta (5Y monthly) | 1.10 |
| PE ratio (TTM) | 27.39 |
| EPS (TTM) | 1.84 |
| Earnings date | 09 May 2024 |
| Forward dividend & yield | 0.70 (1.39%) |
| Ex-dividend date | 22 Apr 2024 |
| 1y target est | 51.30 |
Barrons.comEncore Wire Stock Surges on $4.2 Billion Takeover by Italy’s Prysmian
Encore Wire stock was surging Monday after the copper and aluminum cable and wire maker announced that it has entered into an agreement to be acquired by Prysmian for about €3.9 billion, or $4.2 billion. Prysmian an Italian cable maker, will pay $290 a share in cash to buy Encore a premium of 11% to the stock’s closing price on Friday of $260.98. “This transaction maximizes value for Encore Wire shareholders and provides an attractive premium for their shares,” Encore Chief Executive Daniel Jones said in a press release.
ReutersCable giant Prysmian to buy Encore Wire in $4.2 billion deal
Italy's Prysmian announced a deal to buy US firm Encore Wire at an 11% premium as it doubles down on a North American market that already powers its profits.
- Reuters
Prysmian boosts N.America exposure with $4.2 billion Encore Wire deal
Massimo Battaini, CEO-designate of the world's largest cablemaker, described wire and cable maker Encore as a "strong player" in the U.S., in particular in the industrial construction segment. It will pay Encore Wire shares $290 in cash each, an 11% premium to the stock's close on Friday. Battaini said the deal would allow Prysmian to become "even more relevant" in the North American market, its most profitable one, thanks to the complementary portfolios of the two firms.
