Italian cable manufacturer, Prysmian, has acquired Dutch group, Draka, Reuters reports. Prysmian had offered €900 million in cash and share to acquire 90.4% of Draka’s ordinary shares.

China’s Xinmao and France’s Nexans were the other bidders to buy the cable company. The cash and share offer has been backed by Draka investor, Flint Beheer, who will become Prysmian’s largest shareholder with 7.3%.

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