Milan-headquartered cable manufacturer Prysmian has launched a E830m cash and stock bid for Dutch cable producer Draka.
Prysmian’s offer comprises E8.60 in cash and 0.6595 newly issued Prysmian shares for each Draka share.
Draka’s board has fully…
Milan-headquartered cable manufacturer Prysmian has launched a E830m cash and stock bid for Dutch cable producer Draka.
Prysmian’s offer comprises E8.60 in cash and 0.6595 newly issued Prysmian shares for each Draka share.
Draka’s board has fully recommended the offer, which will remain valid until 3 February.
A previous attempt by Prysmian to acquire the company in 2009 fell through in September of that year reportedly because of regulation complexities that inhibited the cross-border deal.
