Superior Essex Confirms Discussions with LS Cable
10 Junho 2008 - 8:58AM
Business Wire
Superior Essex Inc. (NASDAQ: SPSX) today confirmed published
reports out of Asia that it is in discussions with LS Cable Ltd.
(KSE: 006260.KS) regarding a potential business combination. LS
Cable has proposed acquiring the outstanding shares of Superior
Essex common stock for $45 per share in cash. LS Cable initially
approached the Superior Essex Board of Directors with a $36 per
share proposal on March 24, 2008. LS Cable has advised Superior
Essex that $45 per share is its final proposal. No agreement has
been reached and there can be no assurances that any transaction
will result from these discussions. Superior Essex does not
anticipate making further announcements with respect to these
discussions unless and until a definitive agreement has been
reached or the discussions have been terminated. ABOUT SUPERIOR
ESSEX Superior Essex�Inc., a FORTUNE 1,000 company, is one of the
largest wire and cable manufacturers in the world. The Company
manufactures and supplies a broad portfolio of wire and cable
products for the Communications, Energy, Automotive, Industrial,
and Commercial & Residential end-markets.�It is a leading
manufacturer of magnet wire, fabricated insulation products, and
copper and fiber optic communications wire and cable. It is also a
leading distributor of magnet wire, insulation and related
products. Additional information on the Company can be found on its
Web site at superioressex.com.
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