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Prysmian makes successful counter offer for Draka

Monday 22 November 2010 | 08:44 CET | News
Energy and telecommunication cable specialist Prysmian Cables & Systems intends to make a bid for Dutch cable producer Draka at EUR 17.20 per share, or a total of EUR 840 million. The offer has received an unanimous recommendation from Draka's board of management and supervisory board and an irrevocable commitment from major Draka shareholder Flint. Prysmian said that it would not break-up or sell material parts of Draka after the takeover, which would create a new leading cable player with an aggregate net sales at EUR 5.8 billion for 2009. The new company is expected to be earnings

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Categories: Fixed / Internet
Companies: Draka / Nexans / Prysmian
Countries: Netherlands / World
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