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Italy's Prysmian to Acquire Atkore in $3.8 Billion Enterprise Value Deal

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Italy-based Prysmian on Monday said it reached an agreement to acquire Illinois-headquartered electrical and infrastructure solutions provider Atkore (ATKR), valuing the target at an enterprise value of $3.8 billion.

"The transaction will expand Prysmian's presence in North America by adding a highly complementary portfolio of cable-adjacent electrical infrastructure products, accelerating its evolution into a fully-fledged electrical solutions provider," the company said in a statement.

Prysmian will pay $95 per share in cash for the deal, a premium of about 23% over the 90-day volume-weighted average share price as of July 31.

The merger will help create an electrical infrastructure solutions provider that will combine complementary products, enhance commercial network and enable faster delivery times and installation processes, supporting investment in electrification and AI-driven infrastructure.

The Boards of Directors of the two companies have approved the deal unanimously, with a closing targeted by the end of 2026, contingent upon shareholder and regulatory approvals and other customary conditions, according to the statement.

Price: $93.48, Change: $+20.52, Percent Change: +28.13%

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