(Alliance News) - Prysmian Spa announced that it has completed the acquisition of Encore Wire Corporation.

The company acquired for cash all of the outstanding common shares of Encore Wire for USD290.00 per share.

As stated in the released note, the acquisition will enable the consolidation of Prysmian's leadership position in North America.

"With the integration of Encore Wire, Prysmian will be in an even better position to promote the acceleration of electrification and digital transformation trends in North America, supporting data center growth and power grid upgrades."

Prysmian on Tuesday closed 1.9 percent in the red at EUR56.70 per share.

By Claudia Cavaliere, Alliance News reporter

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