Prysmian has agreed to acquire Atkore Inc. in an all-cash transaction valued at approximately $3.8 billion, a strategic move that strengthens its position in North America’s rapidly expanding electrical infrastructure market while accelerating growth in electrification, AI-powered data centers, and digital connectivity.
Under the terms of the definitive agreement, Atkore shareholders will receive $95.00 per share in cash, representing a 30% premium to the company’s closing share price on July 31, 2026, and a 57% premium to its closing share price on September 29, 2025, the day before Atkore announced its strategic review process.
The acquisition combines two complementary businesses with the goal of creating one of the most comprehensive providers of electrical infrastructure solutions in North America. By integrating Prysmian’s expertise in energy transmission and digital connectivity with Atkore’s portfolio of electrical products serving commercial, industrial, solar, and data center markets, the combined company aims to offer customers a broader, end-to-end range of solutions.
The deal is expected to simplify electrical infrastructure deployment for utilities, contractors, and enterprise customers while supporting the increasing demand driven by power grid modernization, renewable energy investments, hyperscale AI data centers, and digital transformation initiatives.
Michael V. Schrock, Chairman of Atkore’s Board of Directors, described the agreement as the outcome of the company’s strategic review process, saying the transaction reflects the strength of Atkore’s electrical infrastructure portfolio while creating greater long-term opportunities for customers, employees, and shareholders as part of a larger global organization.
Prysmian CEO Massimo Battaini said growing investments in electrification, AI-driven data centers, and digital infrastructure are reshaping the market, making the acquisition an important step in expanding Prysmian’s commercial platform and product portfolio. He added that Atkore’s complementary business strengthens Prysmian’s evolution into a fully integrated electrical solutions provider while reinforcing its North American presence.
Expanding Electrical Infrastructure Capabilities
The acquisition significantly broadens Prysmian’s North American product portfolio by adding Atkore’s electrical infrastructure solutions to its existing energy and digital connectivity offerings. Together, the companies intend to create a single-source provider capable of supporting customers across large-scale infrastructure projects, commercial construction, industrial facilities, renewable energy developments, and next-generation data centers.
The combined organization is expected to benefit from long-term structural growth trends, particularly increasing investments in electrification, digital infrastructure, AI computing facilities, and modern power grids. By offering complementary products and deeper customer relationships, Prysmian aims to strengthen its competitive position across multiple high-growth markets.
Transaction Timeline and Financing
The boards of directors of both Prysmian and Atkore have unanimously approved the transaction. Atkore’s Board will recommend that shareholders vote in favor of the acquisition when proxy materials are distributed.
The transaction is expected to close by the end of 2026, subject to shareholder approval, regulatory clearances, and customary closing conditions.
Prysmian plans to finance the acquisition through a combination of debt; including hybrid bonds; and equity initiatives, including treasury share disposal, while maintaining its investment-grade credit profile.
Third-Quarter Financial Results
Alongside the acquisition announcement, Atkore also released its fiscal third-quarter 2026 financial results. The company has canceled its previously scheduled earnings conference call and will instead host an investor conference on August 7, 2026, to discuss quarterly results in accordance with the terms governing its Senior Notes due 2031.
Advisors
Atkore appointed Citi as lead financial advisor for the transaction, with J.P. Morgan Securities LLC also serving as financial advisor. Debevoise & Plimpton LLP acted as legal counsel, while Joele Frank, Wilkinson Brimmer Katcher served as strategic communications advisor.
About Prysmian
Prysmian is a global leader in energy and digital connectivity solutions, delivering electrical transmission projects on land and offshore while supporting renewable energy, grid modernization, electrification, and digital infrastructure worldwide. The company operates with approximately 34,000 employees, 109 manufacturing facilities, and 30 research and development centers across more than 50 countries. Listed on the Italian Stock Exchange, Prysmian reported approximately €20 billion in revenue during 2025.
About Atkore
Atkore is a leading manufacturer of electrical infrastructure products serving commercial, industrial, solar, and data center markets. The company employs approximately 5,400 people and generated $2.9 billion in sales during fiscal 2025, providing products that support growing demand for electrification and digital transformation.
Investor Information
Atkore intends to file a proxy statement with the U.S. Securities and Exchange Commission (SEC) in connection with the proposed acquisition. Investors and shareholders are encouraged to review the proxy statement and related SEC filings once available, as they will contain important information regarding the proposed transaction. The company will continue providing updates through its investor relations website, SEC filings, press releases, conference calls, and webcasts.
Forward-Looking Statements
The companies noted that the announcement contains forward-looking statements regarding the anticipated timing, financing, benefits, and completion of the acquisition. These statements are subject to various risks and uncertainties, including shareholder approval, regulatory clearances, financing conditions, litigation, market developments, and other customary closing factors, which could cause actual results to differ materially from current expectations.
Media Contacts
Lisa Winter
Vice President – Communications, Atkore
Phone: +1 708-225-2453
Email: AtkoreCommunications@atkore.com
Matthew Kline
Vice President – Treasury & Investor Relations, Atkore
Phone: +1 708-225-2116
Email: Investors@atkore.com
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