Superior Essex acknowledges final offer from LS Cable

By Lisa Kerner

Charlotte, N.C., June 10 - Superior Essex Inc. said it is in discussions with LS Cable Ltd. regarding a potential business combination, confirming Asian news reports.

LS Cable proposed acquiring the outstanding shares of the Atlanta wire and cable manufacturer's common stock for $45 per share in cash in what LS Cable said is its final proposal, according to a Superior Essex statement.

In March, LS Cable, a Seoul, South Korea-based cable and wire company, proposed buying Superior Essex for $36 per share.

Superior Essex noted that there can be no assurances that any transaction will result from the discussions.

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