Italian Cable Company Prysmian to Buy U.S. Firm Atkore for $3.8 Billion

Prysmian, an Italian cable maker, agreed to buy U.S.-based Atkore for $95 per share in cash, Reuters reports. The total deal value is about $3.8 billion, which includes Atkore's debts. Prysmian makes power and telecom cables and wants to add Atkore's electrical piping and mechanical products to its lineup.