Prysmian Acquires Atkore for $3.8 Billion

Prysmian S.p.A. has agreed to acquire Atkore Inc. in an all-cash transaction valued at approximately $3.8 billion. This acquisition will transfer ownership of Atkore, a key player in electrical infrastructure products, to Prysmian, significantly expanding the latter's footprint in North America. The transaction price of $95 per share represents a 30% premium over Atkore’s closing share price on July 31, 2026, and a 57% premium over the closing price before Atkore's strategic review in September 2025.

Under the terms, Atkore shareholders will receive cash for their shares. Boards of both companies have unanimously approved the agreement. The deal is expected to close by the end of 2026, contingent on shareholder and regulatory approvals. Prysmian plans to finance the acquisition through a combination of debt instruments, including hybrid bonds, and equity, while maintaining its investment grade status.

The acquisition strategically positions Prysmian to enhance its offerings in electrification and data center sectors—areas witnessing significant investment and growth due to advancing technology and infrastructure demands. Prysmian CEO Massimo Battaini highlighted that Atkore brings a robust portfolio and growth potential, which will significantly bolster Prysmian’s capabilities as a comprehensive provider of electrical infrastructure solutions.

This integration will form a streamlined entity, effectively a one-stop provider for electrical infrastructure solutions in North America. The move aims to capitalize on long-term growth trends in electrification and increased digital connectivity requirements. The synergy from combining the strengths of both companies is expected to streamline operations and deepen customer relationships within the sector.

Looking forward, the acquisition remains subject to customary closing conditions, including regulatory clearance. Successful completion will enhance Prysmian’s position as a leading integrated electrical infrastructure provider, expanding its competitive edge in servicing the growing demand across major U.S. markets.