General Cable Announces Review of Strategic Alternatives to Maximize Shareholder Value
July 26, 2017
General Cable Corporation (NYSE: BGC), a leader in the development, design, manufacture, marketing and distribution of copper, aluminum and fiber optic wire and cable products for the energy, industrial, and communications markets, has announced that its Board of Directors has initiated a review of strategic alternatives to maximize shareholder value, including a potential sale of the Company.
The Company has engaged J.P. Morgan Securities LLC as financial advisor and Sullivan & Cromwell LLP as legal advisor to assist in the process.
John E. Welsh, III, Non-Executive Chairman of the Board, said, “After careful consideration, our Board has determined to undertake a review of strategic alternatives with the goal of maximizing shareholder value. While the management team has made excellent progress in the execution of our strategic roadmap to transform the Company into a more focused, efficient and innovative organization, we expect the industry to consolidate over time and believe the review at this time is in the best interests of shareholders.”
