According to the Complaint, General Cable develops, designs, manufactures, markets, and distributes copper, aluminum, and fiber optic wire and cable products for the energy, specialty, and communications markets. The Company's segments include North America, Europe, Latin America, and Africa/Asia Pacific. General Cable also engages in the design, integration, and installation on a turnkey basis for products, such as high and extra-high voltage terrestrial and submarine systems. The Company produces and sells to a range of end markets, including markets for electric utility, electrical infrastructure, communications, construction, and rod mill products.
On December 4, 2017, General Cable and Prysmian issued a press release announcing the Proposed Merger. On December 22, 2017, Defendants caused the Proxy to be filed with the SEC in connection with the Proposed Merger. The Proxy solicits the Company’s shareholders to vote in favor of the Proposed Merger. The Complaint alleges that the Proxy misrepresents and/or omits material information that is necessary for the Company’s shareholders to make an informed decision concerning whether to vote in favor of the Proposed Merger, in violation of Sections 14(a) and 20(a) of the Exchange Act.
This case was voluntarily dismissed as moot on March 26, 2018.