Prysmian to acquire US firm Atkore for $95 per share

Italian cable manufacturer Prysmian signed a definitive merger agreement on 3 August 2026 to acquire US electrical installation systems maker Atkore (NYSE: ATKR) for $95 per share in cash. The implied enterprise value is around $3.8bn (€3.3bn), equal to 9.8x 2025 EBITDA and 7.1x including run-rate synergies; the premium is about 23% over the 90-day volume-weighted average price as of 31 July 2026. Prysmian expands its North American business into cable-adjacent products such as conduit, cable management and framing systems, targeting demand from electrification and AI data centres. Closing is expected by the end of 2026, subject to Atkore shareholder and regulatory approval. Second source: EC&M (https://www.ecmweb.com/business-industry/news/55395155/atkore-inc-to-be-acquired-by-prysmian). Update (14 Sept 2026): The antitrust waiting period under the US Hart-Scott-Rodino Act expired at 11:59 p.m. Eastern Time on 14 September 2026 (HSR notifications were filed on 14 August 2026), clearing a key closing condition. The proxy statement was first mailed to Atkore stockholders on or around 9 September 2026; (Atkore, Form 8-K filed 15 Sept 2026). Correction (25 Sept 2026): the definitive proxy statement (DEFM14A) does set a date – Atkore stockholders vote on the merger at a virtual special meeting on 7 October 2026, with a record date of 4 September 2026; approval requires a majority of the outstanding shares (SEC, DEFM14A). Update (7 Oct 2026): Atkore stockholders adopted the merger agreement at the virtual special meeting, with 27,600,871 votes in favour, 21,281 against and 18,885 abstentions. Of the 33,773,062 shares entitled to vote (record date 4 Sep 2026), 27,641,037 were represented, so the quorum was met; the advisory vote on merger-related compensation passed 23,392,804 to 4,112,417. The filing gives no completion date, and the remaining foreign-investment clearances are still outstanding (Atkore, Form 8-K filed with the SEC, 7 Oct 2026). Update (7 Oct 2026): After the shareholder vote Prysmian expects the acquisition to close on 19 October 2026, subject to the remaining regulatory clearance and customary conditions (Prysmian, press release, 7 Oct 2026). Update (19 Oct 2026): Prysmian completed the acquisition on 19.10.2026: Atkore shareholders received USD 95 per share in cash and Atkore is now a wholly owned subsidiary (Prysmian press release, 19.10.2026).