Prysmian strikes $3.8 billion deal to buy Atkore in US electrical push

Prysmian Chief Financial Officer Pier Francesco Facchini said the acquisition would be funded with about 20% equity, including the possible sale of treasury shares, more than 20% through hybrid instruments, and the remaining 60% through debt financing.

Prysmian shares opened 3% higher before reversing course to trade 3% lower by 0950 GMT.

Atkore, which employs around 5,400 people globally, reported revenue of $2.85 billion for 2025 and earnings before interest, tax, depreciation and amortisation of $386 million.

It makes products including electrical conduit and cable management systems and supplies data centres, utilities including renewables, and transportation, such as railways.

Battaini told analysts that as Prysmian and Atkore provided complementary products to the same customers, there would be a better chance of winning clients with a bundled offer.