Italian cable and energy infrastructure company Prysmian has signed a definitive agreement to acquire Atkore Inc., a leading U.S. manufacturer of electrical infrastructure products, for US$95 per share in cash, valuing the company at an enterprise value of about US$3.8 billion. The boards of both companies have unanimously approved the transaction, which is expected to close after receiving regulatory approvals and shareholder consent.
The acquisition will expand Prysmian's portfolio beyond power and telecommunications cables by adding Atkore's electrical conduit, cable management, and infrastructure protection products. Together, the companies aim to capitalize on rising global demand driven by artificial intelligence data centers, renewable energy projects, electrification, and upgrades to aging power grids.
Prysmian said the combination is expected to generate operational efficiencies and create new growth opportunities, particularly in North America, one of the world's fastest-growing infrastructure markets. Atkore will continue serving customers across construction, utilities, industrial manufacturing, and communications while benefiting from Prysmian's global reach.
Business analysts describe the transaction as one of the largest industrial acquisitions announced this month. The deal underscores the accelerating consolidation within the global electrical infrastructure industry as companies position themselves to meet increasing investment in clean energy, digital infrastructure, and modern electricity networks.
