Southwire acquiring Coleman Cable for $492M plus debt
The $26.25-per-share cash offer plus assumption of $294M in debt brings the deal’s total to $786M.
Multiplemediaoutlets have reported that Coleman Cable has agreed to be acquired by Southwire Company in a deal expected to close in the first quarter of 2014. Privately held Southwire will pay $26.25 per share for publicly traded Coleman—a premium of more than 16 percent over the closing price on October 29, which was when reports began to surface about a potential acquisition. That per-share offer amounts to $492 million; Southwire also will assume $294 million in debt.
Both companies manufacture primarily electrical cables, but also produce cable for some types of communication systems.