In A $3.8 Billion Deal, Prysmian Will Purchase Atkore for $95 Per Share

Prysmian (PRY.MI), an Italian cable manufacturer, announced on Monday that it has reached an agreement to purchase Atkore (ATKR.N), a U.S.-based manufacturer of electrical equipment, for $95 per share in cash. This acquisition would give the business an implied enterprise value of around $3.8 billion.

According to Prysmian, the offer is around 23% more than Atkore’s 90-day volume-weighted average share price as of July 31.

By establishing “a one-stop shop” for electrification and AI-driven infrastructure projects, including data centers, the agreement increases Prysmian’s presence in North America.

Atkore employs about 5,400 people worldwide and had $2.85 billion in revenue and $386 million in EBITDA in the 2025 fiscal year.

Within three years of closing, Prysmian anticipates that the transaction will produce run-rate pre-tax synergies of roughly $150 million.

The merged business would have reported about €22.1 billion ($25.5 billion) in sales and €2.7 billion in adjusted EBITDA based on pro forma fiscal 2025 results. The merger is anticipated to be earnings accretive from the first full year following closing.

Subject to regulatory clearances, Atkore shareholder approval, and usual closing conditions, the transaction, which was unanimously authorized by both boards, is anticipated to close by the end of 2026.

The Atkore acquisition is not included in Prysmian’s current 2026 forecast. After the transaction complete and Atkore is integrated into its results, the company promised to update its outlook.