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Italian company Prysmian, an
international leader in the production of cables, said Monday
that it was buying American rival General Cable in an operation
worth around $3 billion.
Prysmian said it has reached a deal to buy 100% of General
Cable, paying $30 per share.
The operation, which has been approved by the boards of both
companies, is set to be closed by the end of the third quarter
of 2018.
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