Prysmian finds $3 billion to buy General Cable

Italian cabling business Prysmian has announced it will acquire US-based competitor General Cable in a deal worth $3 billion.
Purchasing the business for $30 a share, including debt and liabilities, is a 35% premium on yesterday’s closing price, and will expand the footprint of Prysmian is several markets, most notably North America.
“The acquisition of General Cable represents a landmark moment for Prysmian Group and a strategic and unique opportunity to create value for our shareho