Prysmian to buy Atkore for $95 a share in $3.8 billion deal

• The deal creates a 'one-stop shop' for electrification and AI-driven infrastructure projects, including data centers, targeting growing North American demand
• Atkore generated $2.85 billion in revenue and $386 million in EBITDA in fiscal 2025, with Prysmian expecting $150 million in run-rate pre-tax synergies within three years
• The transaction is expected to close by end of 2026 pending shareholder and regulatory approvals, and will be earnings accretive from the first full year after closing

Prysmian Acquires Atkore for $3.8 Billion to Expand U.S. Presence

Italian cable manufacturer Prysmian announced Monday it will acquire U.S.-based electrical products maker Atkore for $95 per share in a $3.8 billion all-cash transaction. The offer price represents approximately a 23% premium to Atkore's 90-day volume-weighted average share price.

Key Financial Details:

• Atkore generated $2.85 billion in revenue and $386 million in EBITDA during fiscal year 2025
• The combined entity would report pro forma revenue of €22.1 billion ($25.5 billion) and adjusted EBITDA of €2.7 billion based on fiscal 2025 results
• Prysmian expects $150 million in annual pre-tax synergies within three years of closing
• The deal is expected to be earnings accretive from the first full year post-closing

Strategic Rationale:

The acquisition significantly expands Prysmian's North American footprint, creating a "one-stop shop" for electrification and AI-driven infrastructure projects, including data centers. This positions the company to capitalize on growing demand for electrical infrastructure supporting artificial intelligence and digitalization.

Transaction Timeline:

The deal, unanimously approved by both boards, is expected to close by the end of 2026, pending Atkore shareholder approval and standard regulatory clearances. Atkore employs approximately 5,400 people globally.

Market Impact:

Prysmian's current 2026 guidance excludes the Atkore acquisition, with the company planning to update its outlook once the transaction closes and Atkore's results are consolidated. The acquisition underscores consolidation in the electrical infrastructure sector as companies position themselves to serve expanding data center and electrification markets.