Deals
Prysmian CFO Confident on Draka Deal; Offer Set for Early 2011
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Prysmian SpA Chief Financial Officer Pier Francesco Facchini is confident his company will succeed in its bid for Draka Holding NV following a higher offer from China’s Tianjin Xinmao S&T Investment Corp.
“We remain confident our bid is very likely to be successful,” Facchini said in a phone interview today. “The current gap between our offer and the Chinese bid could well be recovered” because of the “strong synergies” between Prysmian and Draka. Milan-based Prysmian is preparing documents for a bid in early 2011, the CFO said.