Electrical Equipment Company Encore Wire Gets Wired For Takeover In €3.9B Deal
Electrical Equipment Company Encore Wire Gets Wired For Takeover In €3.9B Deal
As per the terms, Encore may solicit alternative acquisition proposals from third parties during a 35-day "go-shop" period following the date of execution of the merger agreement. 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.
Encore Wire Corporation（納斯達克股票代碼：WIRE）簽署了一項最終協議，將由普睿司曼股份公司（場外交易代碼：PRYMF）以每股290.00美元的現金收購。
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.
截至2024年4月12日星期五，該交易價格比30天成交量加權平均股價（VWAP）高出約20％，比截至同日的90天交易量加權平均股價（VWAP）高出約29％。與週五收盤價260.98美元相比，溢價超過11％。
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.
Encore的隱含企業價值（EV）約爲39億歐元，相當於8.2倍的EV/2023A息稅折舊攤銷前利潤和6.3倍的EV/2023A息稅折舊攤銷前利潤，包括運行率協同效應。
As per the terms, Encore may solicit alternative acquisition proposals from third parties during a 35-day "go-shop" period following the date of execution of the merger agreement.
根據條款，Encore可以在合併協議執行之日後的35天的 “上市” 期內向第三方徵求替代收購提案。
Prysmian expects the acquisition to generate ~€140 million in run-rate EBITDA synergies, projected within four years from closing.
普睿司曼預計，此次收購將在完成後的四年內產生約1.4億歐元的息稅折舊攤銷前利潤協同效應。
The transaction is expected to close in the second half of 2024, subject to regulatory approvals, and other customary closing conditions.
該交易預計將於2024年下半年完成，但須獲得監管部門的批准和其他慣例成交條件。
Based on pro forma aggregated results for the twelve months ended December 2023, the combined company would have posted net sales of over €17.7 billion and adjusted EBITDA of about €2.1 billion.
根據截至2023年12月的十二個月的預計彙總業績，合併後的公司淨銷售額將超過177億歐元，調整後的息稅折舊攤銷前利潤約爲21億歐元。
Daniel L. Jones, Encore Wire's Chairman, President and CEO, said, "This transaction maximizes value for Encore Wire shareholders and provides an attractive premium for their shares. Encore Wire and Prysmian are two highly complementary organizations, and we anticipate a bright future for Encore Wire as part of Prysmian."
Encore Wire董事長、總裁兼首席執行官丹尼爾·瓊斯表示：“該交易爲Encore Wire股東實現了價值最大化，併爲他們的股票提供了誘人的溢價。Encore Wire和普睿司曼是兩個高度互補的組織，我們預計作爲普睿司曼一部分的Encore Wire的前景光明。”
Massimo Battaini, Prysmian designated Group CEO, commented, "Through this acquisition, Prysmian will grow its North American presence, enhancing its portfolio and geographic mix, while significantly increasing the exposure to secular growth drivers. We look forward to welcoming the Encore Wire team to Prysmian and benefitting from the combined company's enhanced product offerings and customer relationships."
普睿司曼指定的集團首席執行官Massimo Battaini評論說：“通過此次收購，普睿司曼將擴大其在北美的業務，增強其投資組合和地域結構，同時顯著增加長期增長驅動力的曝光度。我們期待着歡迎Encore Wire團隊加入普睿司曼，並從合併後的公司增強的產品供應和客戶關係中受益。”
Investors can gain exposure to the stock via Advisor Managed Portfolios Miller Value Partners Appreciation ETF (NYSE:MVPA) and The Acquirers Fund (NYSE:ZIG).
投資者可以通過Advisor Managed Portfolios Miller Value Partners增值ETF（紐約證券交易所代碼：MVPA）和收購者基金（紐約證券交易所代碼：ZIG）獲得股票敞口。
Price Action: WIRE shares traded higher by 8.43% at $282.99 premarket Monday.
價格走勢：週一盤前WIRE股價上漲8.43％，至282.99美元。
Photo via Shutterstock
照片來自 Shutterstock
譯文內容由第三人軟體翻譯。
