Prysmian is looking to expand its operations in Europe and South America by payin $30 per share in cash for General Cable, which is 37 percent higher than Friday's closing price for the company. The company's market cap is $1.47 Billion, and the average volume is $1.03 Million.
The Prysmian deal, which won unanimous approval from both companies' boards, is subject to acceptance by General Cable shareholders and other regulatory approvals.
"The acquisition of General Cable represents a landmark moment for Prysmian Group and an opportunity to create value for our shareholders and customers", said Valerio Battista, Prysmian Group CEO. The company has 49.85 Million shares outstanding and 48.54 Million shares were floated in market. General Cable Corporation's institutional ownership is 0%, while its institutional transactions stand at 2.42%. It turned negative, as 22 investors sold General Cable Corporation shares while 39 reduced holdings. The overall volume in the last trading session was 2 million shares. Finally, Dynamic Technology Lab Private Ltd acquired a new position in shares of General Cable in the 3rd quarter worth approximately $246,000.
Taking a broader look brokerage firms' analysts on the street with an expectant view have General Cable Corp (NYSE:BGC) high price target of $26 and with a conservative view have low price target of $26.
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The former Western Kentucky quarterback has especially shown an ability to develop high-powered offenses at multiple locations. Asked if he planned to be the coach of the Ducks in the Las Vegas Bowl on December 16, Taggart said, "Why wouldn't I be?"
The highest price BGC stock touched in the last 12 month was $29.75 and the lowest price it hit in the same period was $14.95.
Facchini said the net present value of the industrial synergies expected from the acquisition totalled around 1.2 billion euros. General Cable Corporation has been given an analysts' mean target of 26.
General Cable Corp (NYSE:BGC)'s revenue estimates for the current quarter are $993.3 Million according to 1 number of analysts, for the current quarter the company has high revenue estimates of $993.3 Million in contradiction of low revenue estimates of $993.3 Million. The company beat the analyst EPS Estimate with the difference of $-0.13.
General Cable Corporation (BGC) performance during the last one year upgraded 53.79 percent, while its year to date (YTD) performance showed a positive trend of 54.59 percent.
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Either way, this is a fascinating insight into the psychology of a referee, particularly at the 42-year-old's level of the game. "There is no ducking the issue".
Los Angeles Capital Mgmt Equity Rech Inc invested in 173,970 shares or 0.02% of the stock. The company was initiated on Thursday, December 1 by CL King. This represents a $0.72 dividend on an annualized basis and a yield of 2.44%. General Cable's payout ratio is now -20.22%.
According to General Cable Corporation's latest 13F filing with the US Securities and Exchange Commission (SEC), institutional ownership is at 102.73%.
General Cable Corporation is engaged in the development, design, manufacture, marketing and distribution of copper, aluminum and fiber optic wire and cable products for use in the energy, industrial, construction, specialty and communications markets.
The combined company brings together complementary geographical footprints, which includes increasing the exposure of Prysmian Group to North America.
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