The potential acquisition of the US-based manufacturer by the Italian group is currently in the advanced stages of negotiation, according to sources familiar with the process.
Timothy Huliselan
Italy's Prysmian is in advanced talks to acquire US electrical manufacturing company Atkore Inc., according to people familiar with the matter.
Prysmian is in advanced talks to buy Atkore Inc.
While reports of an all-cash acquisition remain disputed, a single source claims that Prysmian SpA intends to acquire Atkore Inc. for $3.8 billion.
While reports regarding the acquisition remain disputed, a single source claims that Prysmian SpA is set to acquire Atkore Inc. for $3.8 billion in an all-cash deal.
Sources indicate that Prysmian SpA plans to acquire Atkore Inc. in an all-cash deal valued at $3.8 billion. The transaction, which is expected to be financed via approximately 60% debt, 20% equity, and 20% hybrid debt, is projected to be accretive to earnings per share in the high-single digits from the first year. Additionally, Prysmian aims to increase its 'solution provider' revenue share to above 60% following the acquisition, surpassing its previous 55% target for 2028.
Prysmian is reportedly in advanced talks to acquire Atkore in an all-cash transaction valued at $3.8 billion, a deal that remains disputed. According to Prysmian CFO Pier Francesco Facchini, the acquisition will be financed through roughly 60% debt, 20% equity, and 20% hybrid debt, with an expected blended cost of debt below 4%. Once integrated, Prysmian expects the transaction to be accretive to earnings per share in the high-single digits from the first year, potentially reaching double digits following synergy realization.
Disputed reports suggest Prysmian SpA has reached an all-cash deal to acquire Atkore Inc., with one source valuing the transaction at $3.8 billion. Prysmian CFO Pier Francesco Facchini indicated the deal would be financed through approximately 60% debt, 20% equity, and 20% hybrid debt, targeting a blended cost of debt below 4%. Additionally, Prysmian raised its 2028 revenue target for 'solution provider' offerings to above 60%, up from a previous goal of 55%.
While sources dispute whether an agreement has been reached, reports suggest Prysmian SpA may acquire Atkore Inc. in an all-cash deal for $3.8 billion. Prysmian CFO Pier Francesco Facchini noted the transaction would be financed through approximately 60% debt, 20% equity, and 20% hybrid debt, with an expected blended cost of debt below 4%. Additionally, the company anticipates integration costs of $45 million to $50 million over three years and expects the deal to increase its 'solution provider' revenue share above 60%, up from a previous 55% target.
Prysmian is reportedly in talks to acquire Atkore in an all-cash deal valued at $3.8 billion, according to sources. To finance the transaction, CFO Pier Francesco Facchini stated the company expects to use approximately 60% debt, 20% equity, and 20% hybrid debt, with an expected blended cost of debt below 4%. While the acquisition details are disputed, Prysmian anticipates integration costs of $45 million to $50 million over three years and expects Atkore to function as a standalone asset within its electrification segment.
