Why Atkore Stock Soared Today
The electrical infrastructure supplier wants to create a "one-stop shop" for its AI data center customers.
Overview
Shares of Atkore (NYSE: ATKR) spiked on Monday after the electrical products manufacturer agreed to be acquired by Prysmian (OTC: PRYMY), a leading provider of power cables and other energy connection solutions, for roughly $3.8 billion.
Image source: Getty Images.
Under the terms of the deal, investors would receive $95 in cash for each share of Atkore stock they own. That's a premium of about 30% to Atkore's closing price on Friday.
Details
Source
Originally published at www.fool.com.
Related Articles
Disclaimer: This article is for informational purposes only and does not constitute investment advice. Data may be delayed up to 15 minutes. Past performance is not indicative of future results. Consult a licensed financial advisor before making investment decisions.