Prysmian S.p.A. to Acquire Atkore Inc. for $3.8 Billion in All-Cash Transaction
Prysmian S.p.A. has entered into a definitive agreement to acquire Atkore Inc. for $95.00 per share in cash, representing an enterprise value of approximately $3.8 billion. The transaction, which has been unanimously approved by the boards of both companies, aims to establish a leading electrical infrastructure solutions provider in North America. By combining their complementary portfolios, the companies intend to create a one-stop shop for electrification and data center roll-out. Massimo Battaini, CEO of Prysmian, stated that the acquisition will accelerate the company's evolution into a fully-fledged electrical solutions provider. Michael V. Schrock, Chairman of the Board of Directors at Atkore Inc., noted that the deal reflects the strength of Atkore's differentiated portfolio and will create a stronger platform with greater scale. The transaction is expected to close by the end of 2026, subject to regulatory approvals and shareholder votes. The deal will be funded through a mix of debt and equity to preserve Prysmian's investment grade profile.