Prysmian agrees $3.8 bln deal for Atkore

Prysmian S.p.A. (PRYm) has entered into a definitive agreement to acquire Atkore Inc. in an all-cash transaction that assigns Atkore an enterprise value of approximately $3.8 billion. Under the terms of the agreement, Atkore shareholders will receive $95.00 per share in cash for each share of Atkore common stock. The per-share offer represents a premium to Atkore’s recent trading levels and delivers an immediate cash realization for existing investors.

Each company’s board of directors has unanimously approved the transaction. Atkore’s board plans to recommend that shareholders vote in favor of the deal when the proxy materials are filed. Completion of the acquisition is targeted by the end of calendar year 2026, subject to Atkore shareholder approval, regulatory clearances and other customary closing conditions.

Prysmian (PRYm) intends to finance the acquisition through a mix of debt and equity. The debt component will include hybrid bonds, while the equity portion will involve measures such as the disposal of treasury shares. Prysmian is targeting the preservation of its investment-grade credit profile as it structures the financing package for the transaction.

Media coverage of the agreement has highlighted Prysmian’s expectation that the combination will generate about $150 million of run-rate pre-tax synergies within three years of closing. These anticipated synergies reflect efficiencies and benefits expected once the two businesses are fully integrated and operating under a unified structure.

The companies expect the transaction to close by the end of 2026, provided it receives the necessary approvals and meets standard closing conditions. To discuss the transaction with the financial community, Prysmian has scheduled a conference call for analysts and institutional investors on August 3, 2026, at 10:00 CEST (4:00 AM ET), hosted by Chief Executive Officer Massimo Battaini.

Separately, Atkore has released fiscal third-quarter results for the period ended June 26, 2026. In light of the acquisition agreement, the company canceled its previously scheduled August 4, 2026, earnings conference call and rescheduled it to August 7, 2026, at 8:00 AM ET. The rescheduled call will focus on Atkore’s financial performance, as required under the terms of the indenture governing its Senior Notes due 2031.

Atkore manufactures electrical products used in commercial, industrial, data center and solar applications and employs about 5,400 people. The combination with Prysmian brings together two businesses that operate across critical electrical infrastructure markets, with the transaction marking a significant step in the evolution of Atkore’s corporate ownership and capital structure.