General Cable (BGC) said on Sunday that it is launching a strategic review in order to boost shareholder value, which could include the possibility of selling the company.
Kentucky-based General Cable develops, designs, manufactures, markets, and distributes copper, aluminum and fiber optic wire and cable products for the energy, industrial, and communications markets.
"While the management team has made excellent progress in the execution of our strategic roadmap to transform the company into a more focused, efficient and innovative organization, we expect the industry to consolidate over time and believe the review at this time is in the best interests of shareholders," General Cable non-executive chairman John Welsh said.
The company isn't making any assurances that the review will result in a sale.
Shares of General Cable were gaining by 7.85% to $17.80 on Monday morning.
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