Prysmian to Acquire Atkore for $3.8 Billion
Prysmian, an Italian cable manufacturer, is set to acquire U.S.-based electrical products company Atkore in a deal valued at $3.8 billion. The transaction includes $95 per share plus debt and aims to expand Prysmian’s presence beyond cables into installation components such as conduits, fittings, and cable trays. The acquisition targets annual synergies of up to $150 million by 2029 through commercial cross-selling and operational efficiencies. It is expected to be accretive to earnings in the first year and will strengthen Prysmian’s position in growing U.S. markets like data centers and electrification. Prysmian CEO Massimo Battaini emphasized that combining Atkore's installation products with its own cable portfolio creates a one-stop solution for customers, enhancing competitive advantage.
Tickers: $ATKR
Topics: Data Centers Electrification Market Mergers & Acquisitions