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Levi & Korsinsky, LLP has commenced an investigation into the fairness of the sale of General Cable Corporation (NYSE: BGC) to Prysmian Group. Under the terms of the transaction, General Cable shareholders will receive $30 for each share of General Cable stock they own.
The investigation concerns whether the Board of General Cable breached their fiduciary duties to stockholders by failing to adequately shop the Company before agreeing to enter into this transaction, and whether Prysmian Group is underpaying for General Cable shares, thus unlawfully harming General Cable shareholders.
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