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Encore Wire Spikes On Agreement To Be Acquired By Prysmian In $4.2 Bln Deal

April 15, 2024 — 11:49 am EDT

Written by RTTNews.com for RTTNews->

(RTTNews) - Encore Wire Corp. (WIRE) shares are surging more than 11 percent on Monday morning trade after on announcement of an agreement to be acquired by the Italian cablemaker Prysmian for around $4.2 billion.

The deal is expected to maximise value for Encore Wire shareholders.

Currently Encore Wire shares are at $11.77 percent from the previous close of $260.98 on a volume of 1,458,684.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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