ZIG - Electrical Equipment Company Encore Wire Gets Wired For Takeover In €3.9B Deal | Benzinga
Encore Wire Corporation (NASDAQ:WIRE) inked a definitive deal to be acquired by Prysmian S.P.A. (OTC:PRYMF) for $290.00 per share in cash.
The transaction price represents a premium of around 20% to the 30-day volume weighted average share price (VWAP) as of Friday, April 12, 2024, and about 29% to the 90-day VWAP as of the same date. It represents a premium of over 11% to Friday’s closing price of $260.98.
Encore’s implied Enterprise Value (EV) of around €3.9 billion represents a multiple of 8.2x EV/2023A EBITDA and 6.3x EV/2023A EBITDA, including run-rate synergies.
As per the terms, Encore may ...