India, Aug. 3 -- On Monday, Atkore Inc. (ATKR), a manufacturer of electrical, safety and infrastructure products, announced that it has entered into a definitive agreement to be acquired by Prysmian S.p.A. (PRY.MI), an Italian power and telecom wire provider, in an all-cash deal at an enterprise value of around $3.8 billion.
Separately, Atkore reported a steep decline in third-quarter net income, even as net sales improved on higher volume and price.
In the overnight activity on the NYSE, the shares for Atkore were trading 20 percent higher at $87.55, after closing Friday's trading 2.76 percent up.
On the Milan Stock Exchange, Prysmian shares were gaining 0.46 percent, trading at 120.75 euros.
Under the agreement, Atkore shareholders wi...