General Cable Corp (BGC.N)
17 Jan 2018
In 2012, when General Cable Corporation got wind of accounting irregularities at its Brazilian operation, it did just what most large, public companies would do in similar circumstances. The corporation, a global manufacturer of metal, aluminum and fiber optic wire and cables, brought in experienced outside counsel, Morgan Lewis & Bockius, to conduct an internal investigation. Morgan Lewis interviewed dozens of GCC employees, in both Brazil and the U.S. Eventually, GCC determined tha
* SAYS IT SCRAPS PLAN TO BID FOR GENERAL CABLE CORP AS THE BIDDING PRICE EXCEEDS COMPANY'S EXPECTATION
MILAN Italian cable maker Prysmian is looking at three more M&A targets, its CEO Valerio Battista said on Tuesday, the day after announcing a $3 billion deal to buy U.S. rival General Cable .
MILAN, Dec 5 Italian cable maker Prysmian is looking at three more M&A targets, its CEO Valerio Battista said on Tuesday, the day after announcing a $3 billion deal to buy U.S. rival General Cable.
* CEO VALERIO BATTISTA SAYS NET PRESENT VALUE OF SYNERGIES EXPECTED FROM GENERAL CABLE DEAL IS AROUND 1.2 BILLION EUROS
* GENERAL CABLE CORP SAYS IF MERGER AGREEMENT BETWEEN CO & PRYSMIAN TERMINATED, CO TO PAY A TERMINATION FEE IN THE AMOUNT OF $47 MILLION - SEC FILING Source: (http://bit.ly/2BIdBUT) Further company coverage:
MILAN Italian cable maker Prysmian has agreed to pay a hefty premium to buy U.S. rival General Cable in a $3 billion deal struck despite competing bids from Chinese and European groups.
* Tightens grip on market leadership (Adds Prysmian executives comments, share reaction, analyst comment)
Dec 4 Prysmian executives tell analysts in a conference call after agreement to buy U.S. rival General Cable:
MILAN, Dec 4 Italian cable maker Prysmian said on Monday it would buy General Cable for $30 per share in an all-cash deal valuing its Kentucky-based rival at around $3 billion, including debt and other liabilities.