CARROLLTON, Ga. and WAUKEGAN, Ill., Jan. 15, 2014 /PRNewswire/ -- Southwire Company ("Southwire") and Coleman Cable, Inc. (NASDAQ: CCIX) ("Coleman") today announced the expiration of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 (the "HSR Act") relating to the previously announced tender offer for all outstanding shares of common stock of Coleman by Southwire and Cubs Acquisition Corporation, a wholly-owned subsidiary of Southwire ("Purchaser"), at a price of $26.25 per share in cash, net to the seller in cash, without interest, less any applicable withholding taxes. Accordingly, the tender offer condition relating to the expiration of the applicable waiting period under the HSR Act has been satisfied. The tender offer and withdrawal rights are scheduled to expire at 12:00 midnight, New York City time, on February 3, 2014 (one minute after 11:59 P.M., New York City Time, on February 3, 2014), unless extended or earlier terminated in accordance with the terms of the merger agreement, dated as of December 20, 2013, among Southwire, Coleman and Purchaser. The completion of the tender offer remains subject to the satisfaction or waiver of other customary conditions as described in the tender offer statement on Schedule TO filed with the Securities and Exchange Commission (the "SEC") on January 6, 2014. About Southwire Company A leader in technology and innovation, Southwire Company is one of North America's largest wire and cable producers. Southwire and its subsidiaries manufacture building wire and cable, metal-clad (MC) cable, cord products (including Tappan™ sound, security, and communication cables through Tappan Wire & Cable Inc.), utility cable products, industrial power cable, OEM wire products, SCR® copper and aluminum rod, and continuous casting technology. Southwire also supplies MAXIS® Contractor Equipment and Southwire™ Electrician's Tools to the commercial, industrial, retail, electrical wholesale outlet and utility construction markets. To learn more about Southwire's products, community involvement, and its vision for a sustainable Southwire, please visit Southwire on the web at www.southwire.com. About Coleman Cable, Inc. Coleman is a leading manufacturer and innovator of electrical and electronic wire and cable products for residential and commercial construction, industrial, OEM, and consumer applications, with operations in the United States, Honduras, and Canada. Coleman's broad product offering enables it to provide its customers a single source for many of their wire and cable requirements. It manufactures the majority of its products in nine domestic production facilities and sells products to more than 8,000 active customers in a wide variety of end markets. It operates three segments: Distribution, OEM, and Engineered Solutions. For more information, visit www.colemancable.com. CCIX-G
Shares of Coleman Cable (Nasdaq:CCIX) were gapping down Tuesday morning with an open price 11.6% lower than Monday's closing price. The stock closed at $12.98 yesterday and opened today's trading at $11.47.