Avenue Investment Management challenges Encore Wire-Prysmian merger deal

Avenue Investment Management challenges Encore Wire-Prysmian merger deal

Toronto-based Avenue Investment Management has formally raised concerns about the proposed merger between Encore Wire Corporation and Prysmian S.p.A. Priced at $290 per share, the deal, announced on April 15, 2024, has sparked debate over the valuation of Encore Wire. Bryden Teich, Chief Investment Officer at Avenue Investment Management, articulated these concerns in a detailed […]

Prysmian set to acquire electrical wire and cables firm Encore Wire for $3.9bn

Prysmian set to acquire electrical wire and cables firm Encore Wire for $3.9bn

Prysmian has announced a definitive merger agreement to acquire Encore Wire Corporation for $290.00 per share in cash. This transaction marks a 20% premium over the 30-day volume-weighted average share price as of April 12, 2024, valuing Encore Wire at approximately €3.9 billion. This price reflects a multiple of 8.2x based on 2023A EBITDA and […]