Breaking News: Mattr’s AmerCable Acquisition and Debt Conversion Receives Green Light from HSR Act Waiting Period!
TORONTO, Dec. 24, 2024 (GLOBE NEWSWIRE)
Mattr Corp. (“Mattr” or the “Company”) (TSX: MATR) announced today that the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 (“HSR Act”), applicable to Mattr’s previously announced agreement to acquire AmerCable Incorporated (“AmerCable”), has expired. With the regulatory approval under the HSR Act secured (“HSR Approval”), Mattr expects the balance of the conditions to closing of this transaction to be achievable within a timeline which will permit completion of the transaction on or about January 2, 2025. Under the terms of the contemplated transaction, upon closing, Mattr will acquire all of the outstanding shares of AmerCable from Nexans USA Inc. (EPA:NEX) for a purchase price of US$280M.
How Will This Affect Me?
As a consumer, this acquisition could potentially lead to changes in pricing or services offered by AmerCable in the future. Depending on how Mattr chooses to integrate AmerCable into its business, there may be new opportunities for customers or potential changes in the products or services available.
How Will This Affect the World?
On a larger scale, this acquisition could have implications for the cable industry as a whole. The consolidation of companies like Mattr and AmerCable could impact competition and market dynamics, potentially leading to shifts in the industry landscape. It could also influence future business decisions and strategies among other players in the market.
Conclusion
The approval of Mattr’s acquisition of AmerCable marks a significant development in the industry. As the transaction moves closer to completion, all eyes will be on how the two companies navigate this new chapter and the potential effects it may have on both consumers and the broader market.
