Prysmian to buy Atkore for $3.8B, expanding US electrical push
What's the deal? Italy's PrysmianDealroom has a profile for this one. Try Dealroom → has agreed to acquire US electrical infrastructure maker AtkoreDealroom has a profile for this one. Try Dealroom → in an all-cash deal valuing the company at roughly $3.8 billion. Atkore shareholders will receive $95.00 per share — a premium of about 30% to Atkore's July 31, 2026 closing price of $72.96.
Why now? The deal caps a strategic review Atkore launched in late September 2025. Against its September 29, 2025 close of $60.69 — the last trading day before that review was announced — the price marks a premium of roughly 57%.
What's the endgame? Prysmian, a maker of energy and digital cables, wants to build a "one-stop shop" in North America for electrification and data center projects. Atkore, which manufactures electrical infrastructure products, adds complementary products and deeper customer reach.
Prysmian chief executive officer Massimo Battaini framed the logic around demand: "Electrification, AI-driven data centers and digitalization all require major investments in infrastructure." He called Atkore "a major acceleration in Prysmian's evolution into a fully-fledged electrical solutions provider."
The terms: Prysmian will fund the purchase through a mix of debt, including hybrid bonds, and equity, including treasury shares. Both boards have unanimously approved the deal, and Atkore's board will recommend shareholders vote in favour.
What could go wrong? The transaction is targeted to close by the end of calendar year 2026, subject to Atkore shareholder approval, regulatory clearances, and other customary conditions.
The signal: The deal reflects how surging power demand from AI data centers and electrification is driving consolidation across the electrical supply chain. For Prysmian, buying scale in the US positions it closer to where that spending is concentrated.
Read more: Business Wire
Image credit: Kitmondo.com
