Southwire signs deal to buy Coleman Cable

Dec 20, 2013 | 04:58 PM | Jo Isenberg-O’Loughlin

Tags  Southwire, copper, Coleman Cable, acquiisition, tender offer, Gary Yetman, Stuart Thorn, wire and cable manufacturer Jo Isenberg

NEW YORK — Southwire Co., one of North America’s largest producers of wire and cable, has entered into a definitive agreement to acquire Coleman Cable Inc. for about $786 million.

The $26.25-per-share offer, plus the assumption of $294 million in net debt, represents a premium of about 16.6 percent to Coleman’s closing share price Oct. 29, the last trading day prior to media reports about a potential deal. It was approved unanimously by Coleman’s board of directors.....

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