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Stock Market & Financial Investment News

News Breaks
December 20, 2013
09:03 EDTCCIXColeman Cable acquired by Southwire $26.25 per share in cash
Southwire and Coleman Cable announced that the companies have entered into a definitive merger agreement under which Southwire will acquire Coleman for $26.25 per share in cash. The transaction, which values Coleman at approximately $786M, including the assumption of $294M in net debt, was unanimously approved by the Coleman board of directors. The parties currently anticipate the transaction will close in 1Q14. The $26.25 per share in cash represents a premium of approximately 16.6% to the closing share price on October 29, the last trading day prior to media reports about a potential transaction, and a premium of 29.6% over the volume weighted average closing price of Coleman's common stock for the 90 days ending October 29.
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