Prysmian Group - General Cable Deal Gets U.S. Regulatory Approval

(RTTNews) - Prysmian Group and General Cable Corp. (BGC) said that they obtained clearance from the Committee on Foreign Investment in the United States or 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.