The last acquisition by Prysmian, the world’s largest cable manufacturer, was its largest ever: a $3 billion deal for U.S.-based General Cable that was completed in 2018. Per a report in Reuters, the company may make another deal in the year or two.

The Reuters story said that during an analyst call, Chief Executive Valerio Battista said that “until recently M&A ‘was a suicide’ due to sky-high valuations.” That situation is changing, and Prysmian has a healthy balance sheet that allows it to pursue opportunities. “Frankly speaking, I believe that in the next 12-24 months ... some of our competitors may come to the door,” he said.

No potential acquisitions were cited in the article, which noted that Prysmian expects a cash flow of between €550-650 million this year, topping prior guidance.