Prysmian Reportedly Nears All-Cash Acquisition Deal for Atkore
Details and Context of the Prysmian-Atkore Acquisition Talks
Advanced Negotiations Between Prysmian and Atkore
Aug 2 (Reuters) - Italian cable maker Prysmian is in advanced talks to acquire U.S. electrical products maker Atkore, Bloomberg News reported on Sunday, citing people familiar with the matter.
Prysmian is putting the final touches on an all-cash deal for Atkore that could be announced in the coming days, the report said.
Verification and Responses from Involved Parties
Reuters could not immediately verify the report. Prysmian declined to comment, while Atkore did not immediately respond to a request for comment outside regular business hours.
Prysmianâs Market Position and Recent Developments
Milan-based Prysmian generates about 40% of its revenue from North America, where a favourable supply-demand balance has supported growth.
Recent Fiber-Optic Cable Agreement
Last month, Prysmian signed a long-term fiber-optic cable supply agreement with Molex worth up to â¬5.5 billion ($6.35 billion), as the company ramps up investments to capitalize on AI-driven demand from data centers.
About Atkore and Its Business Segments
Atkoreâs Product Offerings and Global Reach
Atkore, which makes electrical, safety and infrastructure products, supplies solutions used in construction, power, data center and telecommunications projects worldwide.
Financial Information Reporting Credits(Reporting by Abu Sultan in Bengaluru; Editing by Edmund Klamann and Paul Simao)