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Encore Wire (NASDAQ:WIRE) today announced that it has entered into a definitive merger agreement under which Prysmian (BIT: PRY) will acquire Encore Wire for $290.00 per share in cash (the "Transaction"). The Transaction represents a premium of approximately 20% to the 30-day volume weighted average share price (VWAP) as of Friday, April 12, 2024 and approximately 29% to the 90-day VWAP as of the same date.
At the terms of the Transaction, Encore Wire's implied Enterprise Value is approximately €3.9 billion1 representing a multiple of 8.2x EV/2023A EBITDA and 6.3x EV/2023A EBITDA including run rate synergies.
Posted In: WIRE
