Wachtell Lipton Rosen & Katz is advising Italy's Prysmian, the world's biggest cablemaker, on its $3.8bn acquisition of US electrical products maker Atkore, repped by Debevoise & Plimpton.
The deal is the latest in a string of US acquisitions by Prysmian as the company bets on AI-driven infrastructure demand and electrification.
Wachtell's team was led by corporate chair Adam Emmerich and corporate partner Ahsan Barkatullah, who also advised Prysmian on its $4.8bn takeover of Texas-based copper wire manufacturer Encore Wire in 2024. Last year the company also bought Californian connectivity products maker Channell Commercial for $1.2bn, in a deal that saw it counselled by Freshfields.
The Atkore acquisition would enable Prysmian to offer customers complementary products and therefore increase its chances of winning clients with a bundled offer, CEO Massimo Battaini told analysts according to a Reuters report.
Atkore employs around 5,400 people globally and makes products including tubes that protect electrical cables and cable management systems for customers across the data centre, construction and utilities sectors. The company reported revenue of $2.9bn and EBITDA of $386m in fiscal 2025.
Debevoise has advised Atkore on matters in the past including the sale of its pipe and conduit business to Infra Pipes earlier this year and its cooperation agreement with Irenic Capital Management in 2025. This time the team was fielded out of New York by M&A partners Erik Andrén and Bill Regner.
Prysmian offered $95 per Atkore share in cash, a 30% premium to Friday's closing price of $72.96 according to Reuters. The company expects the deal to generate around $150m of pre-tax annual benefits within three years of closing, which is expected by the end of this year.
Morgan Stanley & Co International is acting as sole financial adviser to Prysmian. Citi is serving as lead financial adviser to Atkore, with JP Morgan Securities also serving as financial adviser.
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