Prysmian Agrees to Acquire Atkore for $3.8 Billion
Prysmian reached an agreement to acquire US-based Atkore Inc. for approximately $3.8 billion to expand its presence in the North American data-center sector.
The Italian cable producer Prysmian Group has agreed to acquire Atkore Inc., a US-listed manufacturer of electrical infrastructure products, in a deal valued at approximately $3.8 billion including debt. Under the terms of the all-cash acquisition, Atkore shareholders will receive $95 per share, representing a premium of roughly 30% over the stock's closing price of $72.96 on Friday.
This agreement follows a period of advanced talks and a strategic review initiated by Atkore in November 2025 with Citigroup Inc. and JPMorgan Chase & Co. The review occurred amid pressure from Irenic Capital Management LP to explore strategic options, including a potential sale. Atkore, headquartered in Harvey, Illinois, specializes in systems that route and protect electrical wiring.
The acquisition aligns with a broader strategy by Prysmian to expand its US footprint, following previous purchases of Encore Wire and Channell Commercial Corp. Chief Executive Officer Massimo Battaini had previously signaled a search for deals with an enterprise value of around €4 billion. Prysmian intends to integrate its cable production with Atkore's product line to increase its market exposure within the growing North American data-center sector.
Keep reading in the app
The full story and every source, free in the app.
Coming soonGoogle Play