Prysmian S.p.A., the Milan-listed global cable manufacturer, has entered into a definitive merger agreement to acquire all outstanding shares of Atkore Inc., a U.S.-listed manufacturer of electrical raceway and mechanical products and solutions, for $95.00 per share in an all-cash transaction. The agreed price represents a premium of approximately 23% over Atkore's 90-day volume-weighted average share price as of July 31, 2026, and implies an enterprise value of approximately $3.8 billion.

Closing is expected by the end of 2026, subject to approval by a majority of Atkore shareholders, regulatory clearances in relevant jurisdictions, and the satisfaction of customary closing conditions.

Atkore manufactures steel, PVC, and aluminum conduit systems that protect electrical wiring, along with cable trays, cable ladders, structural framing, and plastic pipe systems. In fiscal year 2025, Atkore reported revenue of $2.85 billion and EBITDA of $386 million. The company operates manufacturing facilities across the United States and serves electrical contractors, distributors, and large-scale construction and infrastructure projects.

Prysmian characterizes the acquisition as a strategic extension from cable manufacturing into the broader electrical infrastructure value chain. By combining its cable production capabilities with Atkore's conduit, cable management, and structural framing systems, Prysmian positions itself as a single-source provider for complete electrical infrastructure solutions. The primary commercial driver is the accelerating capital expenditure in data center construction and AI infrastructure, which requires both high-capacity cables and the physical systems that route and protect them.

Prysmian projects approximately $150 million in annual EBITDA synergies within three years of closing, derived from cross-selling, procurement efficiencies, and operational integration.

The merger control analysis will focus on the competitive effects of bundling cable products with complementary infrastructure systems, distributor access dynamics, and cross-selling arrangements on large data center projects. Relevant antitrust authorities in the United States and potentially the European Union will review the combination.

Key due diligence areas for Atkore include product liability exposure across its conduit and structural product lines, environmental and occupational safety compliance at manufacturing facilities, raw material price risk in steel, PVC, and aluminum inputs, facility permits and zoning, and change-of-control provisions in material customer contracts and supply agreements.

Prysmian has indicated that the transaction will be financed through a combination of debt, hybrid bonds, and equity. Coordinating the financing structure with the regulatory and shareholder approval timeline will be a critical execution consideration.

This summary is based on publicly available information as of August 3, 2026. It is provided for informational purposes only and does not constitute legal advice.