General Cable Corporation (NYSE: BGC) has announced the voting results from the company´s special meeting of stockholders, the company said.
Stockholders of General Cable approved the company´s previously announced acquisition by Prysmian Group (BIT: PRY) for USD 30.00 per share in cash.
A total of 38,140,754 shares, representing approximately 75.34% of the total number of shares of common stock outstanding and approximately 99% of the total votes cast, were voted in favor of the merger. Subject to regulatory approvals and other customary closing conditions, the transaction is expected to close by the third quarter of 2018.
General Cable, with headquarters in Highland Heights, Kentucky, is a global provider of the development, design, manufacture, marketing and distribution of aluminum, copper and fiber optic wire and cable products for the energy, communications, automotive, industrial, construction and specialty segments. General Cable is one of the largest wire and cable manufacturing companies in the world, operating manufacturing facilities in its core geographical markets, and has sales representation and distribution worldwide.