Prysmian to buy General Cable in $3bn operation (2)

Milan, December 4 - Italian company Prysmian, an international leader in the production of cables, said Monday that it was buying American rival General Cable in an operation worth around $3 billion. Prysmian said it has reached a deal to buy 100% of General Cable, paying $30 per share. The operation, which has been approved by the boards of both companies, is set to be closed by the end of the third quarter of 2018.