Prysmian to Acquire Atkore for $3.8 Billion
The deal values Atkore at $3.8 billion, including debt, with shareholders set to receive $95 per share in cash.
Prysmian Group has entered into a definitive agreement to acquire Atkore Inc. in a transaction valued at approximately $3.8 billion, which includes debt. Atkore shareholders will receive $95 in cash for each share they hold.
This acquisition marks a significant move for Prysmian, a global leader in the energy and telecom cable systems industry. Atkore, known for its electrical raceway and cable solutions, is expected to complement Prysmian's existing portfolio and geographic reach.
The transaction is subject to customary closing conditions, including regulatory approvals and the approval of Atkore shareholders. Both companies anticipate the deal will close in the second half of 2024. Following the closing, Atkore will operate as a privately held company.