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WEISSLAW LLP: General Cable Corporation Acquisition May Not Be in the Best Interests of BGC Shareholders
 
By PR Newswire

NEW YORK, Dec. 5, 2017 /PRNewswire/ -- WeissLaw LLP is investigating possible breaches of fiduciary duty and other violations of law by the Board of Directors of General Cable Corporation ("BGC" or the "Company") (NYSE: BGC) in connection with the proposed acquisition of the Company by multinational corporation Prysmian Group ("Prysmian").  Under the terms of the agreement, shareholders of BGC will receive $30.00 in cash for each BGC share they own. 

WeissLaw is investigating whether BGC's Board acted to maximize shareholder value prior to entering into the agreement.  Notably, according to the acquisition announcement, Prysmian anticipates that the transaction will generate EPS accretion in the range of 10%-12% for its shareholders in the first year post-close.  Moreover, according to Valerio Battista, Prysmian's CEO, this deal will enhance Prysmian's position in the cable industry by increasing its presence in North America, and expanding its footprint in Europe and South America. 

Given these facts, WeissLaw is investigating whether BGC's Board acted in the best interests of BGC's public shareholders to maximize shareholder value prior to entering into the agreement.  If you own BGC shares and would like more information about your rights or our investigation, or if you have information to share with us, please contact Joshua Rubin by telephone at (888) 593-4771 or by email at [email protected].  



WeissLaw LLP has litigated hundreds of stockholder class and derivative actions for violations of corporate and fiduciary duties.  We have recovered over a billion dollars for defrauded clients and obtained important corporate governance relief in many of these cases.  If you have information or would like legal advice concerning possible corporate wrongdoing (including insider trading, waste of corporate assets, accounting fraud, or materially misleading information), consumer fraud (including false advertising, defective products, or other deceptive business practices), or anti-trust violations, please email us at [email protected] or fill out the form on our website, http://www.weisslawllp.com/general-cable-corporation/

 

View original content:http://www.prnewswire.com/news-releases/weisslaw-llp-general-cable-corporation-acquisition-may-not-be-in-the-best-interests-of-bgc-shareholders-300567190.html

SOURCE WeissLaw LLP

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