CARROLLTON, Ga. and WAUKEGAN, Ill., Feb. 3, 2014 /PRNewswire/ -- Southwire Company ("Southwire") and Coleman Cable, Inc. (NASDAQ: CCIX) (the "Company" or "Coleman") today announced that Cubs Acquisition Corporation, a wholly-owned subsidiary of Southwire ("Purchaser"), has extended the expiration of its previously announced tender offer for all outstanding shares of common stock of Coleman, at a price of $26.25 per share in cash, net to the seller in cash, without interest, less any applicable withholding taxes, to 12:00 midnight, New York City time, on February 10, 2014 (one minute after 11:59 P.M., New York City time, on February 10, 2014). Purchaser has extended the tender offer in order to permit the expiration of the marketing period under the merger agreement, which commenced on January 13, 2014 and is scheduled to expire on February 10, 2014. The tender offer was previously 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). All other terms and conditions of the tender offer remain unchanged. The depositary for the tender offer has advised that, as of the close of business on February 3, 2014, a total of approximately 15,838,154 shares of the Company's common stock were validly tendered and not properly withdrawn in the tender offer, representing approximately 85.6% of the outstanding shares. 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.