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Prysmian growing its North American presence with Encore Wire acquisition

April 16, 2024 | By Anthony Capkun

April 16, 2024 – Encore Wire announced it has entered into a definitive merger agreement under which Prysmian will acquire Encore for $290.00 per share in cash.

“Through this acquisition, Prysmian will grow its North American presence, enhancing its portfolio and geographic mix, while significantly increasing the exposure to secular growth drivers,” said Massimo Battaini, Prysmian designated Group CEO. “We look forward to welcoming the Encore Wire team to Prysmian and benefitting from the combined company’s enhanced product offerings and customer relationships.”

This deal, says Encore, is highly complementary to Prysmian’s strategy, allowing it to:

• increase its exposure to secular growth drivers
• enhance its exposure in North America
• leverage Encore Wire’s operational efficiency and service across Prysmian’s portfolio
• broaden Prysmian’s product offering


The transaction has been approved by each company’s board of directors, and is expected to close in the second half of 2024, subject to approval of Encore Wire’s shareholders representing at least a majority of the outstanding shares, regulatory approvals, and other customary closing conditions.

However, under the terms of the agreement, Encore may solicit alternative acquisition proposals from third parties during a 35-day “go-shop” period. Encore does not intend to disclose developments related to the solicitation process unless it determines such disclosure is appropriate or is otherwise required.

“We are pleased to have reached an agreement that reflects the remarkable value Encore Wire has created with our expansive single-campus model, low-cost production, centralized distribution and product innovation,” said Daniel L. Jones, chair, president and CEO. “Furthermore, as part of a larger, global operation, we expect this transaction will bring additional future opportunities for our employees, whose dedication and hard work made this transaction possible.”

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