The Italian cable maker has agreed to acquire the US electrical-products manufacturer in an all-cash deal worth about $3.8bn, paying $95.00 a share to push its North American business further into the buildout behind the AI boom.
The price is a 30% premium to Atkore’s closing price on 31 July and 57% above where the stock sat in late September 2025, when Atkore put itself under strategic review. The deal is expected to close by the end of 2026, subject to shareholder and regulatory approval.
Atkore makes the unglamorous hardware of electrification: conduit, cable management, and metal framing for commercial, industrial, data-centre, and solar projects. The company employs about 5,400 people and booked $2.9bn in sales in its 2025 financial year.
The logic is the power problem sitting behind AI. US utilities alone plan to spend $1.4 trillion by 2030 to feed data centres, and every one of those sites needs the physical electrical kit Atkore sells, wired in at scale.
‘Electrification, AI-driven data centers and digitalization all require major investments in infrastructure,’ said Prysmian chief executive Massimo Battaini.
