Prysmian to Acquire Atkore in US$3.8 Billion Deal
Prysmian has entered into a definitive agreement to acquire U.S.-based Atkore in an all-cash transaction valued at approximately US$3.8 billion. Under the agreement, Atkore shareholders will receive US$95 per share, representing a premium over the company's recent trading price. The transaction is expected to close by the end of 2026, subject to shareholder and regulatory approvals.
The acquisition will expand Prysmian's presence in North America by adding Atkore's portfolio of electrical infrastructure products, including electrical conduit, cable management systems, framing products, and plastic pipe solutions. The combined business will serve markets such as utilities, renewable energy, data centers, commercial and industrial construction, and transportation.
Prysmian said the acquisition supports its strategy of becoming a broader electrical infrastructure solutions provider as investment in electrification and AI-driven infrastructure accelerates. The company expects the transaction to generate approximately US$150 million in annual pre-tax synergies within three years of closing through complementary product offerings, an expanded commercial network, and operational efficiencies.
Massimo Battaini, CEO of Prysmian, said Atkore's portfolio complements the company's existing business and strengthens its position in the U.S. market. Michael V. Schrock, Chairman of Atkore's Board of Directors, described the agreement as the outcome of the company's strategic review process and said the combination is expected to create a stronger platform with a broader range of electrical infrastructure solutions for customers.
Source: power-technology.com
