Prysmian and General Cable Announce Anticipated Closing Date Of June 6, 2018 For Prysmian's Acquisition Of General Cable
Prysmian Group (BIT: PRY) and General Cable Corporation (NYSE: BGC) today announced that the parties have been informed that they have obtained clearance from the Committee on Foreign Investment in the United States (CFIUS) for the proposed acquisition of General Cable by Prysmian. Such clearance was the last of the regulatory approvals sought in connection with the transaction.
As previously announced by General Cable, on February 16, 2018, stockholders of General Cable approved General Cable’s acquisition by Prysmian at a special meeting of General Cable’s stockholders called for such purpose. Prysmian and General Cable currently expect that the closing of the transaction will occur on June 6, 2018, subject to the satisfaction or waiver of the remaining customary conditions to closing set forth in the merger agreement between the parties.