Prysmian completes $3.8 billion cash acquisition of Atkore
Prysmian S.p.A. closed its purchase of Atkore Inc., paying $95 per eligible share, which translates to an implied enterprise value of about $3.8 billion. The transaction was funded with a mix of debt and equity, and Atkore’s shares were delisted from the NYSE after the closing. Prysmian expects to generate roughly $150 million of annual pretax synergies within three years and projects earnings‑per‑share accretion in the first full year after integration.
Why it matters
The cash payment provides immediate value to Atkore shareholders, while the anticipated synergies should boost Prysmian’s pretax earnings and EPS, potentially improving its profitability metrics for investors. The acquisition also expands Prysmian’s product portfolio in the U.S. electrical solutions market.
Key facts
- 1Prysmian paid $95 per eligible share for Atkore, implying an enterprise value of about $3.8 billion. econotimes.com
- 2The cash payable to Atkore shareholders totals about $3.3 billion, funded with debt and equity. econotimes.com
- 3At the closing, Atkore became a wholly owned subsidiary of Prysmian and its NYSE shares were delisted. econotimes.com
- 4Prysmian expects annual pretax synergies of approximately $150 million within three years of closing. tradingview.com
- 5Atkore’s 4.25% senior notes due 2031 were redeemed for $400 million, with noteholders receiving 102.125% of principal plus accrued interest. econotimes.com
- 6Andrea Pirondini was appointed president and chief executive officer of Atkore after the acquisition. econotimes.com
Summary written by AlphAI AI Desk from 2 of 2 sources. Not investment advice. Figures are as stated by the linked sources.