Edition:
United States

Prysmian SpA (PRY.MI)

PRY.MI on Milan Stock Exchange

26.54EUR
23 Feb 2018
Change (% chg)

€0.27 (+1.03%)
Prev Close
€26.27
Open
€26.31
Day's High
€26.71
Day's Low
€26.12
Volume
630,047
Avg. Vol
893,423
52-wk High
€30.17
52-wk Low
€23.31

Latest Key Developments (Source: Significant Developments)

General Cable Corp Stockholders Approve Acquisition By Prysmian Group
Friday, 16 Feb 2018 12:05pm EST 

Feb 16 (Reuters) - General Cable Corp ::GENERAL CABLE CORPORATION STOCKHOLDERS APPROVE ACQUISITION BY PRYSMIAN GROUP.GENERAL CABLE CORP - ‍TRANSACTION IS EXPECTED TO CLOSE BY Q3 OF 2018​.GENERAL CABLE CORP - APPROXIMATELY 99% OF TOTAL VOTES CAST WERE VOTED IN FAVOR OF MERGER​.  Full Article

Italy's Prysmian Wins 40 Mln Euro Contract To Build Underwater Cable In Capri
Friday, 2 Feb 2018 04:40am EST 

Feb 2 (Reuters) - ITALY'S PRYSMIAN ::WINS EUR 40 MILLION CONTRACT TO BUILD UNDERWATER CABLE IN CAPRI.  Full Article

Italy's Prysmian Wins 150 Mln Euro Order In The Philippines
Friday, 22 Dec 2017 04:11am EST 

Dec 22 (Reuters) - ITALY'S PRYSMIAN ::WINS ORDER OF OVER EUR 150 MILLION FROM NATIONAL GRID CORPORATION OF THE PHILIPPINES.ORDER IS FOR TWO SUBMARINE POWER CABLE CONNECTIONS BETWEEN ISLANDS OF CEBU AND NEGROS.  Full Article

Prysmian Wins 80 Mln Euro Order From Bahrain's Electricity & Water Authority
Wednesday, 13 Dec 2017 04:26am EST 

Dec 13 (Reuters) - ITALY'S PRYSMIAN ::WINS 80 MILLION EURO ORDER FROM ELECTRICITY & WATER AUTHORITY OF BAHRAIN.  Full Article

Prysmian likely to issue bond to refinance term loan
Tuesday, 5 Dec 2017 07:11am EST 

Dec 5 (Reuters) - Prysmian Chief Financial Officer Pier Francesco Facchini says: :GROUP WILL LIKELY ISSUE BOND TO REFINANCE TERM LOAN.  Full Article

Prysmian CEO sees synergies NPV from General Cable deal of around 1.2 bln euros
Tuesday, 5 Dec 2017 06:31am EST 

Dec 5 (Reuters) - Prysmian executives say: :CEO VALERIO BATTISTA SAYS NET PRESENT VALUE OF SYNERGIES EXPECTED FROM GENERAL CABLE DEAL IS AROUND 1.2 BILLION EUROS.CEO SAYS THINKS GENERAL CABLE IS A BIT OVERSTAFFED.CFO PIER FRANCESCO FACCHINI SAYS RIGHTS ISSUE OF 500 MLN EUROS WILL ALLOW COMPANY TO COMPLETE DEALS ALREADY IN PIPELINE, SMALLER SIZE THAN GENERAL CABLE.CFO SAYS ESTIMATE ON EPS ACCRETION AFTER GENERAL CABLE DEAL ALREADY INCLUDES PLANNED RIGHTS ISSUE, BUT EXCLUDES EXPECTED SYNERGIES.  Full Article

Prysmian CEO says another M&A deal could be done in coming months
Tuesday, 5 Dec 2017 06:03am EST 

Dec 5 (Reuters) - Prysmian Chief Executive Valerio Battista says: :ANOTHER M&A DEAL COULD BE DONE IN COMING MONTHS.GENERAL CABLE ACQUISITION STRENGTHENS PRYSMIAN'S LEADERSHIP BUT SECTOR STILL HIGHLY FRAGMENTED.  Full Article

General Cable To Pay Fee If Merger Between Co & Prysmian Terminates
Monday, 4 Dec 2017 08:24am EST 

Dec 4 (Reuters) - General Cable Corp ::GENERAL CABLE CORP SAYS IF MERGER AGREEMENT BETWEEN CO & PRYSMIAN TERMINATED, CO TO PAY A TERMINATION FEE IN THE AMOUNT OF $47 MILLION - SEC FILING.  Full Article

Prysmian says synergies from merger with General Cable likely higher than forecast
Monday, 4 Dec 2017 03:39am EST 

Dec 4 (Reuters) - Prysmian executives tell analysts in a conference call after agreement to buy U.S. rival General Cable::PRYSMIAN CEO SAYS MAY FIND ADDITIONAL SYNERGIES FROM WORKING CAPITAL.PRYSMIAN CFO SAYS SEES ADDITIONAL 35-40 MILLION EURO SYNERGIES COMING FROM FINANCIAL COSTS.PRYSMIAN CEO SAYS COMBINED GROUP WITH GENERAL CABLE WILL GENERATE 28 PERCENT OF SALES IN NORTH AMERICA, 54 PERCENT OF SALES IN EMEA.PRYSMIAN CEO SAYS COMBINED GROUP WITH GENERAL CABLE WILL GENERATE 36 PERCENT OF SALES FROM ELECTRIC UTILITY BUSINESS.PRYSMIAN CEO SAYS SUBSTANTIAL PART OF SYNERGIES WILL BE ACHIEVED IN THE FIRST THREE YEARS.PRYSMIAN CFO SAYS GROUP WILL CONVERT 300 MILLION EURO CONVERTIBLE BOND IN SPRING 2018.PRYSMIAN CFO SAYS REASON FOR POTENTIAL RIGHTS ISSUE OF UP TO 500 MILLION EUROS IS TO CREATE ROOM FOR ADDITIONAL M&A.PRYSMIAN CEO SAYS COMBINED GROUP WILL GENERATE 400 MILLION EURO FREE CASH FLOW PER YEAR.PRYSMIAN CFO SAYS IT IS MOST LIKELY THE GROUP WILL LAUNCH A 500 MILLION EURO RIGHTS ISSUE.  Full Article

Prysmian To Acquire General Cable For $30 Per Share In Cash
Monday, 4 Dec 2017 01:11am EST 

Dec 4 (Reuters) - General Cable Corp ::PRYSMIAN TO ACQUIRE GENERAL CABLE FOR $30.00 PER SHARE IN CASH.TRANSACTION VALUES GENERAL CABLE AT APPROXIMATELY $3 BILLION, INCLUDING DEBT AND CERTAIN OTHER GENERAL CABLE LIABILITIES‍​.SAYS PRYSMIAN EXPECTS COMBINED GROUP TO GENERATE RUN-RATE PRE-TAX COST SYNERGIES OF APPROXIMATELY EUR 150 MILLION WITHIN FIVE YEARS.TRANSACTION IS EXPECTED TO GENERATE EPS ACCRETION IN RANGE OF 10-12% FOR PRYSMIAN SHAREHOLDERS ALREADY WITHIN FIRST YEAR AFTER CLOSING.  Full Article

BRIEF-General Cable Corp Stockholders Approve Acquisition By Prysmian Group

* GENERAL CABLE CORPORATION STOCKHOLDERS APPROVE ACQUISITION BY PRYSMIAN GROUP