General Cable sold for $3 billion

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General Cable, a leading manufacturer of wire and cable solutions is being acquired by Prysmian Group. General Cable Corporation and Prysmian Group jointly announced on December 4 they entered into a definitive agreement under which Prysmian will acquire General Cable for $30 per share in cash. The transaction values General Cable at $3 billion, including debt and other liabilities. The $30-per-share price represents an 81-percent premium over General’s $16.55-per-share closing price on July 14, 2017

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