Prysmian nears all-cash takeover of U.S. maker Atkore

Prysmian, the Italian cable and wire manufacturer, is in advanced talks to acquire U.S. electrical products company Atkore ↗ 0.01% in an all-cash deal, Bloomberg reported on Sunday.bloomberg

The Milan-based company is putting the final touches on an agreement that could be announced in the coming days, according to people familiar with the matter. Atkore, which is headquartered in Harvey, Illinois, had a market capitalization of approximately $2.46 billion as of its last trading session on July 31.investors.atkore+1

A Pattern of U.S. Expansion

The potential acquisition would continue Prysmian's aggressive push into the American market. In 2024, the company completed its acquisition of Encore Wire for $290 per share in cash, adding U.S. wire manufacturing capacity. More recently, in July 2026, Koch-owned Molex reached a deal worth up to $6.29 billion with Prysmian for data-center cables, according to The Wall Street Journal.prysmian+1

Prysmian also raised its profit outlook on July 30 after reporting a record first half of 2026, suggesting the company has financial momentum heading into a potential Atkore deal.marketscreener

What Atkore Brings

Atkore manufactures electrical raceway products, mechanical products, and safety and infrastructure solutions for commercial, industrial, data center, telecommunications, and solar applications. The company operates primarily in the United States and employs approximately 5,400 people.perplexity+1

A deal at roughly the current market capitalization would represent a modest premium to Atkore's recent trading levels. The stock closed at $72.96 on July 31 with a market cap of $2.46 billion. Atkore's valuation has declined from a peak market capitalization of nearly $6 billion in 2023.companiesmarketcap+1

Neither Prysmian nor Atkore has publicly commented on the negotiations. A deal, if finalized, would rank among the larger cross-border industrial acquisitions in the electrical manufacturing sector this year.