Prysmian eyes organic growth as well as M&A after Encore deal, CEO says (updated)

Encore Wire

30/05/2024 12:51

(Recasts headline and lead explaining U.S. deal refers to April
announcement)
       MILAN, May 30 (Reuters) - Cable maker Prysmian  PRY.MI 
will look to organic growth as well as acquisitions to expand,
its chief executive said on Thursday, as it looks to complete a
$4.2-billion deal announced last month.
    "We are working on organic growth and also on M&A and a big
one is going to materialise in the U.S.", CEO Massimo Battaini
said during an online event regarding its acquisition of Encore
Wire  WIRE.O .
    The U.S. competition watchdog on Wednesday gave its green
light to that deal. Encore has called a shareholder meeting on
June 26 to give final approval to the transaction.
    Prysmian expects the acquisition to complete in the second
half of the year.     
    

 (Reporting by Giancarlo Navach, writing by Claudia Cristoferi,
editing Gianluca Semeraro and Jason Neely)
 ((Claudia.Cristoferi@thomsonreuters.com; +39 06 80307733;))