Prysmian to buy Atkore for $95 per share in $3.8 bln deal
ATKR•Prysmian agrees to acquire Atkore for cash
MILAN, Aug. 3 (Reuters) - Italian cable maker Prysmian PRY.MI said on Monday it agreed to acquire U.S.-based electrical products maker Atkore ATKR.N for $95 per share in cash, giving the company an implied enterprise value of around $3.8 billion.
- The offer represents a roughly 23% premium to Atkore's 90-day volume-weighted average share price as of July 31, Prysmian said.
- The deal expands Prysmian’s North American footprint, creating "a one-stop shop" for electrification and AI-driven infrastructure projects, including data centers.
- Atkore generated revenue of $2.85 billion and an EBITDA of $386 million in the 2025 fiscal year, and employs around 5,400 people globally.
- Prysmian expects the acquisition to generate about $150 million run-rate pre-tax synergies within three years of closing.
- Based on pro forma fiscal 2025 results, the combined company would have reported about €22.1 billion ($25.5 billion) in revenue and €2.7 billion in adjusted EBITDA, with the deal expected to be earnings accretive from the first full year after closing.
- The transaction, unanimously approved by both boards, is expected to close by the end of 2026, subject to Atkore shareholder approval, regulatory clearances and customary closing conditions.
- Prysmian's current 2026 guidance does not take into account the Atkore acquisition. The company said it would update its outlook once the deal closes and Atkore is consolidated into its results.
