General Cable (BGC) to Buy Rio Tinto's (RIO) Alcan Cable for $185M in Cash
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General Cable Corporation (NYSE: BGC) announced today that it has agreed to acquire Alcan Cable, the wire and cable business of Rio Tinto plc (NYSE: RIO).
The purchase price is $185 million in cash, subject to customary adjustments primarily related to working capital levels at closing as provided in the definitive purchase agreement. The Company expects to use its Asset Based Revolving Credit Facility to principally fund the transaction.
The transaction is expected to close in the second half of 2012, subject to receipt of regulatory approval.
The purchase price is $185 million in cash, subject to customary adjustments primarily related to working capital levels at closing as provided in the definitive purchase agreement. The Company expects to use its Asset Based Revolving Credit Facility to principally fund the transaction.
The transaction is expected to close in the second half of 2012, subject to receipt of regulatory approval.
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