Italian cable and energy infrastructure giant Prysmian is accelerating its expansion in the United States through an agreement to acquire Atkore, an American manufacturer of electrical infrastructure products, for approximately $3.8 billion, equivalent to about €3.3 billion.
Under the all-cash agreement, Prysmian will pay $95 for each Atkore share. The offer represents a premium of approximately 30% over Atkore’s closing price of $72.96 on July 31, 2026, and 23% over its average share price during the previous 90 days.
The transaction has received unanimous approval from both companies’ boards but remains subject to Atkore shareholder approval and regulatory clearances. Completion is expected by the end of 2026.
Headquartered near Milan, Prysmian is an Italian company and the world’s largest cable manufacturer. The acquisition is another major step in its plan to become a more comprehensive supplier of electrical solutions in North America, which already generates about 40% of the group’s revenue.
Atkore, based in Harvey, Illinois, manufactures electrical conduits, fittings, cable-management systems and other products used in data centers, industrial construction, renewable energy, utilities and transportation. The company employs approximately 5,400 people and recorded $2.85 billion in revenue during fiscal 2025.
Combining Prysmian’s cables with Atkore’s complementary components will allow the Italian group to offer customers a broader, integrated range of products. Prysmian expects the transaction to produce approximately $150 million in annual pre-tax synergies within three years of closing.
The combined business would have generated approximately €22 billion in revenue and €2.7 billion in adjusted core earnings in 2025. The operation follows Prysmian’s acquisitions of Texas-based Encore Wire in 2024 and California-based Channell Commercial in 2025. It is therefore part of both Prysmian’s long-term American strategy and the broader expansion of Italian companies in the United States, particularly in advanced manufacturing, electrification, digital infrastructure and data centers.
