Prysmian Group Obtains Approval to Acquire Encore Wire Corporation
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On May 28, 2024, Prysmian Group (Prysmian) obtained clearance under the Hart-Scott-Rodino Antitrust Improvements Act to acquire Encore Wire Corporation (Encore Wire). Prysmian is a multinational company with a direct presence in more than 50 countries – with 24 plants in North America – specializing in the production of electrical cable for use in many industries, including the energy and telecom sectors, and for construction and infrastructure. Encore Wire primarily manufactures building wires and cables used to distribute power from the transmission grid to wall outlets or switches in residential, industrial, and commercial buildings.
Compass Lexecon supported outside counsel for Prysmian from Wachtell, Lipton, Rosen & Katz, to analyze the competitive aspects of the transaction. Counsel for the parties presented analyses prepared by Compass Lexecon to the Department of Justice.
The Compass Lexecon team was led by Jon Orszag and Guillermo Israilevich and included Alexander Collison.