Atkore Inc. Issues $400 Million Debt Redemption Notice Ahead of Prysmian Merger Close

Key numbers

Deal value	$400M
Share of market cap	12.5%
Share of annual revenue	14.0%

Key highlights

• Conditional redemption of $400 million in 4.25% Senior Notes due 2031 at 102.125% of principal
• Redemption is contingent upon the completion of the merger with Prysmian S.p.A.
• Atkore stockholders officially approved the merger agreement on October 7, 2026
• Hart-Scott-Rodino Act waiting period expired on September 14, 2026
• Targeted redemption and merger closing date set for October 19, 2026

What Is the Deal?

Under the terms of the merger agreement announced on August 2, 2026, Prysmian S.p.A. will acquire Atkore Inc. in an all-cash transaction valued at approximately $3.8 billion. The deal involves Trinity Merger Sub, Inc. merging with and into Atkore, with Atkore surviving as a subsidiary of Prysmian. The completion of this transaction is now reaching its final stages, with the expected closing date set for October 19, 2026. This acquisition represents a significant expansion for Prysmian into the North American electrical infrastructure market, integrating Atkore's portfolio of conduit, cable, and framing products.

Up 0.0% since our story on 8 Oct: $94.86 when we broke it → $94.88 at the close on 13 Oct. Daily closing prices. Source: Yahoo Finance.

Show the prices

14 Sep	$94.07
15 Sep	$94.55
16 Sep	$94.52
17 Sep	$94.47
18 Sep	$94.32
21 Sep	$94.47
22 Sep	$94.50
23 Sep	$94.51
24 Sep	$94.54
25 Sep	$94.57
28 Sep	$94.60
29 Sep	$94.73
30 Sep	$94.75
1 Oct	$94.77
2 Oct	$94.62
5 Oct	$94.78
6 Oct	$94.72
7 Oct	$94.85
8 Oct	$94.84
9 Oct	$94.84
12 Oct	$94.88
13 Oct	$94.88

Deal Structure & Terms

• Prysmian is acquiring 100% of Atkore outstanding common stock in an all-cash transaction
• Redemption of $400 million in Senior Notes is funded by Prysmian as part of the merger financing
• Noteholders will receive 102.125% of the principal amount plus accrued interest
• The merger received final stockholder approval on October 7, 2026
• The transaction is not subject to any remaining financing conditions following this debt notice

Strategic Rationale

The acquisition aligns with Prysmian's strategy to broaden its product offerings and geographic footprint in the United States. By incorporating Atkore, Prysmian gains access to specialized electrical equipment segments including polyvinyl chloride conduits, armored cables, and metal framing systems. This consolidation follows a series of divestitures by Atkore throughout 2025 and 2026, including the sale of its high-density polyethylene pipe business and several international manufacturing units. The combined entity is positioned to capitalize on North American infrastructure investments and the ongoing energy transition, leveraging Atkore's established distribution networks.

Business Overview

Headquartered in Harvey, Illinois, Atkore Inc. is a leading provider of electrical, safety, and infrastructure solutions. The company operates two primary segments: Electrical and Safety & Infrastructure. Its portfolio includes steel, PVC, and polyethylene conduits, cable management systems, and modular support structures used in commercial, industrial, and utility applications. As of 2026, the company maintained a short-cycle order fulfillment model, generally precluding the reporting of a formal backlog. Atkore has recently streamlined its operations through the sale of its Belgian surface protection business and Northwest Polymers recycling division to focus on core electrical components.

Industry Landscape

• The electrical equipment sector is seeing increased M&A activity driven by grid modernization
• Supply chain verticalization remains a priority for global industrial manufacturers
• Consolidation in the North American conduit market is responding to rising infrastructure demand
• Global players like Prysmian are seeking to mitigate regional volatility through US-based acquisitions

Atkore Inc. · financial snapshot

Share price	$94.86
Market cap	$3.2B
Revenue (annual)	$2.9B
1-month price change	+1.05%
Sector	IndustrialsElectrical Equipment & Parts

Reference market data from a third-party provider, as of the story. Not a valuation or a recommendation.