Prysmian Said to Near $2.5 Billion Acquisition of Atkore
Italian cable giant Prysmian is reportedly close to a $2.5B deal to acquire US electrical conduit maker Atkore, sources say.
Italian cable and electrical systems manufacturer Prysmian is nearing a deal to acquire Atkore, a US-based electrical conduit and cable management company, in a transaction valued at approximately $2.5 billion, according to reports citing people familiar with the matter. The deal, if finalized, would rank among the more significant industrial consolidation moves in the electrical infrastructure sector this year.
Atkore, which trades on the New York Stock Exchange, specializes in electrical raceway products and mechanical products and solutions widely used in commercial and industrial construction. A takeover by Prysmian would give the Milan-headquartered acquirer a stronger foothold in the American market at a time when demand for electrical infrastructure is surging, driven by data center buildouts, grid modernization, and domestic manufacturing expansion.
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Prysmian has been an active dealmaker in recent years, expanding its global reach across energy and telecommunications cable markets. Adding Atkore's US manufacturing base and distribution network would complement Prysmian's existing North American operations and position the combined entity to compete more aggressively for large-scale electrification and construction projects across the continent.
The reported $2.5 billion valuation reflects a premium consistent with heightened investor and strategic interest in companies exposed to the energy transition and infrastructure spending themes that have dominated industrial M&A activity. No definitive agreement has been publicly confirmed, and negotiations could still fall apart or produce different terms than those currently reported.
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