Atkore Inc. (NYSE: ATKR) shares surged about 27% in Monday's premarket session after the electrical products maker agreed to a $3.8 billion all-cash takeover by Prysmian S.p.A. (OTC: PRYMY) and reported better-than-expected fiscal third-quarter results.

Atkore Takeover: Prysmian Offers $95 Per Share

Prysmian agreed to acquire Atkore for $95 per share in cash, representing a roughly 30% premium to Atkore's July 31 closing price of $72.96.

The offer also represents a 57% premium to the stock's September 29, 2025, closing price of $60.69, the last trading day before Atkore announced its strategic review.

The companies expect the transaction to close by the end of 2026, subject to shareholder and regulatory approvals and other customary conditions.

Both boards unanimously approved the agreement, and Atkore's board intends to recommend it to shareholders.

The $95-per-share all-cash takeover offer served as a major catalyst for Atkore's stock, driving a premarket rally as investors priced in a substantial deal premium and a guaranteed cash exit.

Deal Expands North American Portfolio

Prysmian plans to fund the acquisition through a combination of debt, hybrid bonds, equity and treasury-share disposals while seeking to preserve its investment-grade credit profile.

The transaction will expand Prysmian's North American electrical infrastructure business and broaden its exposure to electrification and data-center development.

"This transaction is the culmination of our comprehensive strategic review process to maximize shareholder value and reflects the strength of Atkore's differentiated portfolio of critical electrical infrastructure products," Atkore Chairman Michael V. Schrock said.

Atkore Earnings Beat Estimates

Atkore reported adjusted EPS of $1.92, beating the $1.56 estimate. Sales rose 8.1% to $794.8 million from $735 million, topping the $761.23 million estimate.

GAAP diluted EPS fell to 2 cents from $1.25, while net income declined 98.3% to $0.7 million. Results included a $50 million litigation settlement expense, related legal costs, and higher transaction expenses.

Adjusted diluted EPS increased from $1.63 a year earlier, while adjusted EBITDA rose 4.7% to $104.7 million.

Segment Results And Outlook

Electrical sales increased 10.9% to $578.3 million, while adjusted EBITDA rose 10% to $89.3 million. Adjusted EBITDA margin narrowed slightly to 15.4% from 15.6%.

Safety & Infrastructure sales increased 1.3% to $216.8 million. Adjusted EBITDA fell 8.4% to $28.1 million, with margin declining to 13% from 14.4%.

Atkore did not update or reaffirm its previous financial outlook because of the pending acquisition.

ATKR Stock Price Activity: Atkore shares were up 26.93% at $92.60 during premarket trading on Monday, according to market data.