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Atkore Acquisition Play: Why Prysmian Sees Hidden Margin Upside!

Atkore has moved from takeover speculation to a definitive transaction after Prysmian (BIT:PRY) agreed to acquire the electrical-infrastructure manufacturer for $95 per share in cash, implying an enterprise value of about $3.8 billion. The agreement followed Atkore’s strategic review, portfolio divestitures, activist pressure, and a competitive sale process. Prysmian expects the acquisition to deepen its United States presence, broaden its exposure to data centers, nonresidential construction, utilities, renewables, and reshoring, and turn its cable business into a fuller installation-solutions platform. Management has identified $150 million of synergies by 2029, with roughly $100 million tied to commercial opportunities and $50 million to procurement, organizational, and manufacturing efficiencies. Atkore brings approximately $2.8 billion of fiscal 2025 revenue, $386 million of EBITDA, a 14% margin, 30 United States facilities, and a product portfolio spanning conduit, fittings, framing, cable management, and related infrastructure components across domestic and international markets with established international reach.