secwatch.observer — SEC 8-K summary
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Issuer:     ENCORE WIRE CORP (—)
CIK:        0000850460
Form:       8-K
Filed at:   2024-04-15T23:59:59+00:00
Accession:  0001193125-24-095443
Event type: m_and_a
Sentiment:  positive
Materiality: 1.00
Item codes: 1.01, 5.03, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Encore Wire to be acquired by Prysmian for $290/share cash (~€3.9B EV)
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- Price of $290.00/share in cash; additional $0.0635/share per day after Apr 14, 2025 if closing delayed.
- Premium of ~20% to 30-day VWAP and ~29% to 90-day VWAP as of Apr 12, 2024.
- Implied EV of ~€3.9B; multiples of 8.2x 2023A EBITDA and 6.3x including run-rate synergies.
- Go-shop period ends May 19, 2024; termination fees of $146.54M (Encore) and $180M (Prysmian reverse).
- Closing expected by Apr 14, 2025, subject to shareholder vote, HSR clearance, and other conditions.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/850460/000119312524095443/0001193125-24-095443-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/850460/000119312524095443/d809980d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-24-095443

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer