The offer represents a 30% premium to Atkore‘s closing share price of $72.96 on July 31, 2026. Additionally, Prysmian stated the acquisition price delivers a roughly 23% premium to Atkore‘s 90-day volume-weighted average share price as of the same date. The deal represents an even more dramatic 57% premium to Atkore‘s closing share price of $60.69 on September 29, 2025, the last trading day before Atkore announced its initial strategic review.

Michael V. Schrock, Atkore‘s Chairman of the Board of Directors, characterized the transaction as the culmination of a comprehensive strategic review process designed to maximize shareholder value.

“This transaction is the culmination of our comprehensive strategic review process to maximize shareholder value and reflects the strength of Atkore’s differentiated portfolio of critical electrical infrastructure products,” said Schrock.

Strategic Rationale Behind the Acquisition

The acquisition positions Prysmian to create what the company describes as “a one-stop shop” for electrification and AI-driven infrastructure projects, including data centers. Milan-based Prysmian already generates about 40% of its revenue from North America, where a favorable supply-demand balance has supported growth in recent years.

Massimo Battaini, Prysmian CEO, emphasized the strategic importance of the United States market in the context of emerging infrastructure demands.

“Electrification, AI-driven data centers and digitalization all require major investments in infrastructure, and they are critical to the modern economy, and the opportunity is substantial in the United States,” said Battaini.

The CEO further explained that Prysmian‘s priority has been to find the right solution to enhance the company’s growth and profitability by adding the appropriate commercial platform and product portfolio to maximize potential. He noted that Atkore offers an attractive combination of complementary products, structural growth exposure, and meaningful synergy opportunities.

Financial Performance and Synergy Expectations

Atkore generated revenue of $2.85 billion and an EBITDA of $386 million in the 2025 fiscal year. The company employs around 5,400 people globally and manufactures electrical, safety, and infrastructure products used in construction, power, data center, and telecommunications projects worldwide.

Prysmian projects the acquisition will generate about $150 million in run-rate pre-tax synergies within three years of closing. The combined entity expects to achieve these synergies through operational efficiencies and enhanced market positioning in the rapidly growing electrical infrastructure sector.

Based on pro forma fiscal 2025 results, the combined company would have reported about €22.1 billion ($25.5 billion) in revenue and €2.7 billion in adjusted EBITDA. Prysmian expects the deal to be earnings accretive from the first full year after closing, demonstrating confidence in the transaction’s immediate financial benefits.

Transaction Timeline and Approvals

The transaction received unanimous approval from both companies’ boards of directors, signaling strong support from leadership on both sides. The deal is expected to close by the end of 2026, subject to Atkore shareholder approval, regulatory clearances, and customary closing conditions.

Prysmian‘s current 2026 guidance does not incorporate the Atkore acquisition. The company stated it would update its outlook once the deal closes and Atkore is consolidated into its results, providing investors with clearer visibility into the combined entity’s financial trajectory.

Complementary Business Portfolios

Schrock highlighted the complementary nature of the two organizations, noting that Atkore and Prysmian are highly complementary organizations. He expressed belief that the combination will create a stronger platform with greater scale and a more comprehensive portfolio of solutions to better serve customers.

The Atkore chairman acknowledged the dedication and hard work of employees in reaching this milestone, expressing expectations that Atkore will benefit from additional opportunities as part of a larger global organization. The transaction reflects the strength of Atkore‘s differentiated portfolio of critical electrical infrastructure products.

Recent Developments in Prysmian’s Growth Strategy

The acquisition comes on the heels of other significant moves by Prysmian to capitalize on infrastructure demand. Last month, the company signed a long-term fiber-optic cable supply agreement with Molex worth up to €5.5 billion ($6.35 billion), demonstrating the company’s commitment to ramping up investments to capitalize on AI-driven demand from data centers.

Advanced negotiations between Prysmian and Atkore reached their final stages over the weekend before the Monday announcement. Reports indicated Prysmian was putting the final touches on the all-cash deal for Atkore, with an announcement expected in the coming days.

The acquisition positions Prysmian to capture a larger share of the growing demand for electrical infrastructure driven by electrification trends, data center expansion, and digitalization initiatives across North America. Under the terms of the agreement, Atkore shareholders will receive $95.00 per share in cash for each share of common stock at the closing of the transaction, providing immediate liquidity and a substantial premium for investors.

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