Prysmian to Buy Atkore in $3.8 Billion All-Cash Deal
The acquisition would broaden Prysmian’s electrical-products portfolio as infrastructure investment accelerates.
Prysmian S.p.A. (PRY) agreed to acquire Atkore Inc. (ATKR) in an all-cash transaction with an enterprise value of about $3.8 billion, bringing a major U.S. manufacturer of electrical infrastructure products into the Italian cable maker’s portfolio. The transaction followed Atkore’s review of strategic alternatives and would give Prysmian greater scale across products used in electrical construction and infrastructure.
Atkore shareholders would receive $95.00 a share in cash at closing. The purchase price represented a premium of about 30% to Atkore’s July 31 closing price and about 57% to its closing price on Sept. 29, 2025, the final trading day before the company announced its initial strategic review.
The combination would advance Prysmian's development as a broader electrical-solutions provider. Spending on electrification, artificial-intelligence data centers and digitalization are sources of infrastructure demand in the U.S. Atkore would add complementary products, exposure to those structural growth areas and opportunities for synergies, while Prysmian’s larger global platform would expand the combined company’s product range and capacity to serve customers.
“We are pleased to have entered into an agreement to be acquired by Prysmian in an all-cash transaction that delivers value to Atkore shareholders. Our solid quarterly results and today’s transaction are a testament to our team’s focus and dedication,” Atkore President and Chief Executive Officer Bill Waltz said.
Atkore makes electrical infrastructure products through its Electrical and Safety & Infrastructure segments. The company reported fiscal third-quarter net sales of $794.8 million, an 8.1% increase from a year earlier, as higher volume, pricing and favorable currency movements outweighed the effect of divestitures. Adjusted earnings before interest, taxes, depreciation and amortization rose 4.7% to $104.7 million, although gross margin narrowed as input-cost increases outpaced price gains.
The agreement capped a strategic review that Atkore expanded in November 2025 to include a possible sale or merger of the entire company. Atkore had also closed plants and divested businesses as it concentrated its portfolio on electrical infrastructure. Completion of the Prysmian transaction remains subject to Atkore shareholder approval, regulatory clearances and other closing conditions. Atkore separately maintained its quarterly dividend, with a payment of $0.33 a share scheduled for Aug. 28 for holders of record on Aug. 18.