Prysmian Bets On Electrification, AI Infrastructure With Atkore Buyout 

Prysmian expects the $3.8 billion Atkore acquisition to generate $150 million in annual pre-tax synergies within three years while boosting long-term earnings. 

Italian cable manufacturer Prysmian has signed a definitive agreement to acquire U.S.-based electrical products company Atkore in an all-cash transaction valued at approximately $3.8 billion, strengthening its position in North America’s fast-growing electrification and data centre markets.

Under the terms of the agreement, Prysmian will pay $95 per share in cash for Atkore, representing a 23 per cent premium over the company’s 90-day volume-weighted average share price as of July 31.

The acquisition is aimed at expanding Prysmian’s portfolio of electrical infrastructure products while enhancing its presence across North America. The combined business is expected to offer a broader range of solutions for electrification projects, including AI-driven infrastructure and data centres.

Atkore reported $2.85 billion in revenue and $386 million in EBITDA during its fiscal year 2025. The company employs approximately 5400 people worldwide.

Prysmian expects the transaction to deliver around $150 million in annual pre-tax cost synergies within three years of the deal’s completion through operational efficiencies and business integration.

Based on the companies’ combined fiscal 2025 financials, the merged entity would have generated approximately €22.1 billion ($25.5 billion) in revenue and €2.7 billion in adjusted EBITDA. Prysmian also expects the acquisition to be accretive to earnings from the first full fiscal year following the closing.

The transaction has received unanimous approval from the boards of directors of both companies. It is expected to close by the end of 2026, subject to approval from Atkore shareholders, regulatory clearances, and other customary closing conditions.

Prysmian said its current 2026 financial guidance does not include the impact of the acquisition. The company plans to update its outlook once the transaction is completed and Atkore’s financials are consolidated.