Prysmian in Advanced Talks to Acquire Atkore — Bloomberg
ATKR sits 36% above its 52-week low of $53.49.
Summary
Prysmian, the Italian cable giant, is in advanced talks to acquire Atkore, a $2.5B market cap electrical manufacturer, per Bloomberg sources. Atkore has been under pressure after a $124M Q2 loss and a $50M antitrust settlement. A deal would likely come at a premium, offering an exit for shareholders battered by litigation and operational headwinds. No terms are disclosed, but the advanced stage suggests a near-term announcement. This follows a rocky six months for Atkore, with negative operating cash flow and a steep earnings miss. Watch for confirmation or deal terms in the coming days.
At the time of this announcement, ATKR was trading at $72.96 on NYSE in the Manufacturing sector, with a market capitalization of approximately $2.5B. The 52-week trading range was $53.49 to $90.16. This news item was assessed with neutral market sentiment and an importance score of 9 out of 10. Source: Reuters.