General Cable Corporation Stockholders Approve Acquisition By Prysmian Group
February 16 2018 - 11:05AM
Business Wire
General Cable Corporation (NYSE: BGC) today announced the voting
results from the Company’s special meeting of stockholders held
this morning. Stockholders of General Cable approved the Company’s
previously announced acquisition by Prysmian Group (BIT: PRY) for
$30.00 per share in cash.
A total of 38,140,754 shares, representing approximately 75.34%
of the total number of shares of common stock outstanding and
approximately 99% of the total votes cast, were voted in favor of
the merger. Subject to regulatory approvals and other customary
closing conditions, the transaction is expected to close by the
third quarter of 2018.
About General Cable
General Cable (NYSE:BGC), with headquarters
in Highland Heights, Kentucky, is a global leader in the
development, design, manufacture, marketing and distribution of
aluminum, copper and fiber optic wire and cable products for the
energy, communications, automotive, industrial, construction and
specialty segments. General Cable is one of the largest
wire and cable manufacturing companies in the world, operating
manufacturing facilities in its core geographical markets, and has
sales representation and distribution worldwide.
Cautionary Statement Regarding
Forward-Looking Statements
This document contains certain forward-looking statements also
within the meaning of Section 27A of the Securities Act of 1933 and
Section 21E of the Securities Exchange Act of 1934, as amended. In
some cases, you can identify these forward-looking statements by
forward-looking words, such as “estimate,” “expect,” “anticipate,”
“project,” “plan,” “intend,” “believe,” “forecast,” “foresee,”
“likely,” “may,” “should,” “goal,” “target,” “might,” “will,”
“could,” “predict,” and “continue,” the negative or plural of these
words and other comparable terminology. Forward looking statements
in this document include, but are not limited to, statements
regarding the expected timing of the completion of the transaction,
Prysmian’s operation of General Cable’s business following
completion of the contemplated merger, the expected benefits of the
transaction, and the future operation, direction and success of
Prysmian’s and General Cable’s businesses. These forward-looking
statements are subject to numerous risks and uncertainties, which
could cause actual results to differ materially from those
anticipated in these forward-looking statements. These risks and
uncertainties include, but are not limited to, uncertainties as to
the timing of the contemplated merger; the possibility that the
closing conditions to the contemplated merger may not be satisfied
or waived; the effects of disruption caused by the announcement of
the contemplated merger; the risk of shareholder litigation in
connection with the contemplated transaction, and other risks and
uncertainties described in the section “Risk factors and
uncertainties” in Prysmian’s most recent Annual Report (which is
available on www.prysmian.com) and in General Cable’s annual report
on Form 10-K, Quarterly Reports on Form 10-Q and Current Reports on
Form 8-K available at www.sec.gov. Subject to applicable law,
neither Prysmian nor General Cable undertakes to publicly update or
revise any of these forward-looking statements. This document does
not constitute an offer to sell, or a solicitation of an offer to
buy Prysmian or General Cable shares.
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version on businesswire.com: http://www.businesswire.com/news/home/20180216005505/en/
General Cable CorporationInvestors:Len
Texter, 859-572-8684Senior Vice President, FinanceGlobal
Controller and Investor RelationsorMedia:Lisa Fell,
859-572-9616Director, Global Communications
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