Atkore (ATKR) shareholders weigh cash buyout at upcoming vote
Atkore Inc. (ATKR) has agreed to be acquired by Prysmian S.p.A. under an Agreement and Plan of Merger dated August 2, 2026. Trinity Merger Sub, Inc., a Prysmian subsidiary, will merge into Atkore, and Atkore will become a wholly owned subsidiary of Prysmian.
At the Effective Time, each outstanding share of Atkore common stock (with limited exceptions) will be converted into the right to receive $95.00 in cash per share, without interest and subject to withholding taxes. A special virtual stockholder meeting will be held to vote on adopting the Merger Agreement, an advisory vote on merger-related executive compensation, and a potential adjournment.
Approval of the Merger Proposal requires a majority of outstanding shares as of the record date; failure to vote or instruct a broker has the same effect as voting against it. The board unanimously determined the deal is fair and in stockholders’ best interests and recommends voting “FOR” all proposals. The merger is subject to regulatory clearances, including under the HSR Act and in Austria, Australia and Canada. If the agreement is terminated in specified circumstances, Atkore may owe Prysmian a $115,920,000 termination fee. The transaction is taxable to U.S. stockholders exchanging shares for cash, and appraisal rights are available under Delaware law for qualifying holders.
Positive
- $95.00 cash per share merger consideration compares to a pre-announcement closing price of $72.96, indicating a higher value than the last trading price before the deal was announced.
Negative
- None.
Filing Explained
The preliminary filing leaves the vote undated; closing would exchange public Atkore equity for cash and settle eligible awards in cash.
Dated
The filing also specifies how equity awards would be settled. Underwater options would be canceled without consideration, while outstanding RSUs, PSUs and DSUs generally would convert into cash based on
Before closing, Atkore may not declare or pay dividends without Prysmian’s consent, other than regular quarterly dividends of no more than
Key Figures
Key Terms
Merger Consideration financial
Company Termination Fee financial
HSR Act regulatory
Appraisal Rights regulatory
golden parachute compensation financial
street name financial
FAQ
What is Atkore (ATKR) receiving in the proposed Prysmian merger?
What stockholder approvals are required for the Atkore (ATKR) merger?
How did the Atkore (ATKR) board evaluate and recommend the merger?
What regulatory approvals are needed for the Atkore (ATKR) merger with Prysmian?
Is there a termination fee in the Atkore (ATKR)–Prysmian merger agreement?
How will the Atkore (ATKR) merger be taxed for U.S. stockholders?
Do Atkore (ATKR) stockholders have appraisal rights in the merger?
AI-generated analysis. How Rhea-AI works. Not financial advice.
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☒ | Preliminary Proxy Statement |
☐ | Confidential, for Use of the Commission Only (as permitted by Rule 14a-6(e)(2)) |
☐ | Definitive Proxy Statement |
☐ | Definitive Additional Materials |
☐ | Soliciting Material Under §240.14a-12 |
☐ | No fee required |
☐ | Fee paid previously with preliminary materials |
☒ | Fee computed on the table in exhibit required by Item 25(b) per Exchange Act Rules 14a-6(i)(1) and 0-11 |
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• | Internet. You may submit a proxy electronically via the internet by following the instructions on your enclosed proxy card. You will need the control number that appears on your proxy card to vote online. Internet voting facilities will be available 24 hours a day and will close at 11:59 p.m. Eastern Time on , 2026, the day prior to the Special Meeting. |
• | Telephone. You may submit a proxy by telephone by following the instructions set forth on your enclosed proxy card. The telephone number is toll-free (within the U.S. and Canada), at no charge to the holders of shares of Common Stock. Please have your proxy card in hand when you call. Telephone voting facilities will be available 24 hours a day and will close at 11:59 p.m. Eastern Time on , 2026, the day prior to the Special Meeting. |
• | Mail. You may indicate your vote by completing, signing and dating the accompanying proxy card and returning it in the enclosed postage-paid reply envelope. If you vote this way, make sure you mail your proxy card early enough so that it is received prior to the closing of the polls at the Special Meeting. |
• | Virtually. You may vote your shares of Common Stock at the Special Meeting if you attend the Special Meeting, which will be held virtually at www.virtualshareholdermeeting.com/ATKR2026SM. |
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• | to vote on a proposal to adopt the Agreement and Plan of Merger, dated as of August 2, 2026 (as it may be amended from time to time, the “Merger Agreement”), by and among Atkore, Prysmian S.p.A., a company organized under the laws of the Republic of Italy (“Prysmian”), Trinity Merger Sub, Inc., a Delaware corporation and a wholly owned subsidiary of Prysmian (“Merger Sub”), and, solely as provided in certain sections of the Merger Agreement, Prysmian Cables and Systems USA, LLC, a Delaware limited liability company (“Guarantor”), a copy of which is attached as Annex A to the accompanying proxy statement of which this notice is a part, pursuant to which, among other things, at the effective time of the Merger (as defined below), Merger Sub will merge with and into Atkore, with Atkore surviving as a wholly owned subsidiary of Prysmian (the “Merger” and such proposal, the “Merger Proposal”); |
• | to cast an advisory (non-binding) vote on a proposal to approve the compensation that will or may be paid or become payable to Atkore’s named executive officers in connection with the completion of the Merger (the “Compensation Proposal”); and |
• | to vote on a proposal to approve the adjournment of the Special Meeting to a later date or dates, if necessary or appropriate, to solicit additional proxies if a quorum is not present or in the event that there are not sufficient votes at the time of the Special Meeting to approve the Merger Proposal (the “Adjournment Proposal”). |
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• | Internet. You may submit a proxy electronically via the internet by following the instructions on your enclosed proxy card. You will need the control number that appears on your proxy card to vote online. Internet voting facilities will be available 24 hours a day and will close at 11:59 p.m. Eastern Time on , 2026, the day prior to the Special Meeting. |
• | Telephone. You may submit a proxy by telephone by following the instructions set forth on your enclosed proxy card. The telephone number is toll-free (within the U.S. and Canada), at no charge to the holders of shares of Common Stock. Please have your proxy card in hand when you call. Telephone voting facilities will be available 24 hours a day and will close at 11:59 p.m. Eastern Time on , 2026, the day prior to the Special Meeting. |
• | Mail. You may indicate your vote by completing, signing and dating the accompanying proxy card and returning it in the enclosed postage-paid reply envelope. If you vote this way, make sure you mail your proxy card early enough so that it is received prior to the closing of the polls at the Special Meeting. |
• | Virtually. You may vote your shares of Common Stock at the Special Meeting if you attend the Special Meeting, which will be held virtually at www.virtualshareholdermeeting.com/ATKR2026SM. |
By Order of the Board of Directors, | |||
Daniel S. Kelly Vice President, General Counsel & Corporate Secretary | |||
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• | “Atkore,” “the Company,” “we,” “us” or “our” refer to Atkore Inc., a Delaware corporation; |
• | “Prysmian” refers to Prysmian S.p.A., a company organized under the laws of the Republic of Italy; |
• | “Merger Sub” refers to Trinity Merger Sub, Inc., a Delaware corporation and a wholly owned subsidiary of Prysmian; |
• | “Guarantor” refers to Prysmian Cables and Systems USA, LLC, a Delaware limited liability company; |
• | “stockholders” or “Atkore stockholders” refer only to holders of shares of Common Stock as of the Record Date; and |
• | “Merger Agreement” refers to the Agreement and Plan of Merger, dated as of August 2, 2026, as it may be amended from time to time, by and among Atkore, Prysmian, Merger Sub and, solely as provided in certain sections of the Merger Agreement, Guarantor, a copy of which is attached as Annex A to this proxy statement. |
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Page | |||
SUMMARY | 1 | ||
QUESTIONS AND ANSWERS | 10 | ||
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING STATEMENTS | 20 | ||
THE PARTIES TO THE MERGER | 22 | ||
THE SPECIAL MEETING | 23 | ||
PROPOSALS FOR THE SPECIAL MEETING | 28 | ||
THE MERGER | 30 | ||
THE MERGER AGREEMENT | 67 | ||
APPRAISAL RIGHTS | 91 | ||
MARKET PRICE AND DIVIDEND DATA | 96 | ||
SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT | 97 | ||
OTHER MATTERS | 99 | ||
WHERE YOU CAN FIND MORE INFORMATION | 100 | ||
ANNEX A AGREEMENT AND PLAN OF MERGER | A-1 | ||
ANNEX B OPINION OF CITIGROUP GLOBAL MARKETS INC. | B-1 | ||
ANNEX C OPINION OF J.P. MORGAN SECURITIES LLC | C-1 | ||
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• | adoption by Atkore’s stockholders of the Merger Agreement; |
• | the expiration or termination of the applicable waiting period (or any extension thereof) under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended (the “HSR Act”), and the expiration of any applicable waiting period of, or receipt of clearance or approval of, certain other governmental entities, including in Austria, Australia and Canada; and |
• | the absence of any law or governmental order in effect that prevents, prohibits or makes illegal the consummation of the transactions contemplated by the Merger Agreement. |
• | the representations and warranties of Prysmian and Merger Sub relating to (i) Prysmian’s and Merger Sub’s legal organization and good standing, (ii) the corporate power and authority of Prysmian and Merger Sub to enter into the Merger Agreement and consummate the transactions contemplated thereby and |
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• | the other representations and warranties of Prysmian and Merger Sub being true and correct at and as of the date of the Merger Agreement and the Closing, as if made at and as of such time (except to the extent expressly made as of an earlier date, in which case as of such date), except where the failure of such representations and warranties to be so true and correct would not, individually or in the aggregate, prevent, materially delay or materially impede the consummation of the transactions contemplated by the Merger Agreement; |
• | the performance in all material respects of all obligations and compliance in all material respects with all covenants in the Merger Agreement required to be performed or complied with by Prysmian and Merger Sub prior to the Closing; and |
• | receipt of a certificate, dated as of the closing date of the Merger and duly executed on behalf of Prysmian and Merger Sub by a duly authorized officer of Prysmian and Merger Sub, certifying that (in his or her capacity as such and not in his or her personal capacity and without any personal liability) the conditions above have been satisfied. |
• | the representations and warranties of Atkore relating to (i) organization, good standing and qualification, (ii) the authorized and outstanding capital stock of Atkore and (iii) the absence of certain changes, in each case, being true and correct, at and as of the date of the Merger Agreement and the Closing, as if made at and as of such time (except to the extent expressly made as of an earlier date, in which case as of such date), in each case, except, with respect to the capital structure representations, for de minimis inaccuracies; |
• | the representations and warranties of Atkore relating to (i) certain capital structure matters, (ii) corporate authority and approval, (iii) governmental filings and no violations (solely with respect to Atkore), (iv) takeover statutes and no rights plan and (v) brokers and finders, in each case, being true and correct in all material respects, at and as of the date of the Merger Agreement and the Closing, as if made at and as of such time (except to the extent expressly made as of an earlier date, in which case as of such date); |
• | the representations and warranties of Atkore that are qualified by a “Company Material Adverse Effect” (as defined in the section titled “The Merger Agreement—Representations and Warranties”) qualification being true and correct in all respects as so qualified at and as of the date of the Merger Agreement and the Closing, as if made at and as of such time (except to the extent expressly made as of an earlier date, in which case as of such date); |
• | the other representations and warranties of Atkore being true and correct (without giving effect to any qualification as to the materiality contained therein) at and as of the date of the Merger Agreement and the Closing, as if made at and as of such time (except to the extent expressly made as of an earlier date, in which case as of such date), except where the failure of such representations and warranties to be so true and correct would not have, individually or in the aggregate, a Company Material Adverse Effect; |
• | the performance in all material respects of all obligations and compliance in all material respects with all covenants in the Merger Agreement required to be performed or complied with by Atkore prior to the Closing; |
• | the absence, since the date of the Merger Agreement, of any Company Material Adverse Effect; and |
• | receipt of a certificate, dated as of the closing date of the Merger and duly executed on behalf of Atkore by Atkore’s duly authorized officer, certifying that (in his or her capacity as such and not in his or her personal capacity and without any personal liability) the first six conditions above have been satisfied. |
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• | a proposal to adopt the Merger Agreement, a copy of which is attached as Annex A to this proxy statement and which is further described in the section titled “The Merger Agreement,” pursuant to which, among other things, at the Effective Time, Merger Sub will merge with and into Atkore, with Atkore surviving as a wholly owned subsidiary of Prysmian (the “Merger Proposal”); |
• | an advisory (non-binding) proposal to approve the compensation that will or may be paid or become payable to Atkore’s named executive officers in connection with the completion of the Merger (the “Compensation Proposal”); and |
• | a proposal to approve the adjournment of the Special Meeting to a later date or dates, if necessary or appropriate, to solicit additional proxies if a quorum is not present or in the event that there are not sufficient votes at the time of the Special Meeting to approve the Merger Proposal (the “Adjournment Proposal”). |
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• | accelerated vesting of Atkore equity-based awards at the Effective Time and their cancellation and conversion into the right to receive a cash payment based on the Merger Consideration; |
• | eligibility of executive officers to receive severance payments and/or benefits under Atkore’s Severance and Retention Policy for Senior Management effective July 10, 2017 (the “Executive Severance Policy”) upon a qualifying termination of employment; |
• | eligibility of James W. Alvey, our Vice President and Chief Accounting Officer, for a cash retention award approved by the Human Resources and Compensation Committee of the Board; |
• | payouts of pro-rated annual bonuses for the year in which the Effective Time occurs as provided for under the Merger Agreement; and |
• | certain indemnification arrangements for Atkore’s current and former officers and directors and certain other indemnified persons, and the continuation of certain insurance arrangements, in each case for six years after the Effective Time. |
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Q: | What is the Merger? |
A: | Atkore and Prysmian have entered into the Merger Agreement that is described in this proxy statement, pursuant to which, at the Effective Time, Merger Sub will merge with and into Atkore, with Atkore surviving as a wholly owned subsidiary of Prysmian. As a result of the Merger, Prysmian will acquire Atkore. Following the Effective Time, the Common Stock will be delisted from the NYSE and deregistered under the Exchange Act, and Atkore will no longer be required to file periodic reports with the SEC on account of the Common Stock. A copy of the Merger Agreement is attached as Annex A to this proxy statement. See “The Merger—Overview of the Merger.” |
Q: | What will I receive if the Merger is completed? |
A: | At the Effective Time, each share of Common Stock issued and outstanding immediately prior to the Effective Time (other than shares of Common Stock to be canceled for no consideration or converted in accordance with the Merger Agreement or as to which appraisal rights have been properly exercised) will be converted into the right to receive an amount in cash equal to $95.00, without interest and subject to applicable withholding taxes. |
Q: | What is the market price of the Common Stock? |
A: | On , 2026, the most recent practicable date before the date of this proxy statement, the closing price for the shares of Common Stock on the NYSE was $ per share. For current price information, you are urged to consult publicly available sources. See “Market Price and Dividend Data.” |
Q: | What is the premium represented by the Merger Consideration? |
A: | The Merger Consideration of $95.00 in cash represents a premium of approximately 30% to Atkore’s closing share price of $72.96 on July 31, 2026, the last trading day prior to the public announcement of the Merger, and approximately 57% to Atkore’s closing share price of $60.69 on September 29, 2025, the last trading day before Atkore announced its initial strategic review. |
Q: | What effect will the Merger have on Atkore? |
A: | At the Effective Time, Merger Sub will merge with and into Atkore, with Atkore surviving as a wholly owned subsidiary of Prysmian. As a result of the Merger, Prysmian will acquire Atkore. Following the Effective Time, the Common Stock will be delisted from the NYSE and deregistered under the Exchange Act, and Atkore will no longer be required to file periodic reports with the SEC on account of the Common Stock. |
Q: | How will I receive the Merger Consideration to which I am entitled? |
A: | As soon as reasonably practicable following the Effective Time (and in any event not later than the fifth business day following the closing date of the Merger), the paying agent will send to each holder of record of a stock certificate that formerly represented outstanding shares of Common Stock a letter of transmittal and instructions advising such stockholder how to surrender certificates in exchange for the Merger Consideration. Upon receipt of (1) surrendered certificates (or an appropriate affidavit for lost, stolen or destroyed certificates, together with any required bond) with respect to shares of Common Stock and (2) a signed letter of transmittal |
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Q: | What will holders of Atkore equity-based awards receive in the Merger? |
A: | Options: At the Effective Time, each option to purchase shares of Common Stock (a “Company Option”) that is outstanding immediately prior to the Effective Time, whether or not vested, will be deemed fully vested and canceled and converted into the right to receive a cash payment from the surviving corporation in the Merger equal to the product obtained by multiplying (A) the excess, if any, of the Merger Consideration over the exercise price per share of such Company Option by (B) the total number of shares of Common Stock underlying such Company Option. |
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Q: | When do you expect the Merger to be completed? |
A: | The Merger is targeted to close by calendar year end 2026, subject to approval by Atkore stockholders holding at least a majority of outstanding shares of Common Stock, regulatory approvals and other customary closing conditions. |
Q: | Is Prysmian’s obligation to complete the Merger subject to Prysmian receiving financing? |
A: | No. Prysmian’s obligations under the Merger Agreement are not subject to any condition regarding its ability to finance, or obtain financing for, the Merger. |
Q: | What happens if the Merger is not completed? |
A: | If the Merger Proposal is not approved by the affirmative vote of the holders of a majority of the outstanding shares of Common Stock as of the Record Date, or if the Merger is not completed for any other reason, Atkore stockholders will not be entitled to, nor will they receive, any payment for their respective shares of Common Stock pursuant to the Merger Agreement. Instead, Atkore will remain an independent public company, the Common Stock will continue to be listed and traded on the NYSE and registered under the Exchange Act, and Atkore will continue to file periodic reports with the SEC. See “The Merger—Effect on Atkore If the Merger Is Not Completed.” |
Q: | What are the expected material U.S. federal income tax consequences of the Merger to a holder of Common Stock? |
A: | The exchange of Common Stock for cash pursuant to the Merger will be a taxable transaction for U.S. federal income tax purposes. |
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Q: | Why am I receiving this proxy statement? |
A: | In order to complete the Merger, among other conditions, holders of a majority of the outstanding shares of Common Stock as of the Record Date must approve the Merger Proposal. Atkore will hold the Special Meeting to obtain such Atkore stockholder approval. This proxy statement, including its annexes, contains or incorporates by reference important information about Atkore, the Merger and the Special Meeting. This proxy statement also contains important information about Prysmian and the other parties to the Merger Agreement. You should read all of the available information carefully and in its entirety. |
Q: | When and where will the Special Meeting be held? |
A: | The Special Meeting will be held solely by means of remote communication via the internet. All holders of record of shares of Common Stock as of 5:00 p.m. Eastern Time on , 2026, the Record Date for the Special Meeting, will be able to attend, vote and participate in the Special Meeting by remote communication. The Special Meeting will be held on , 2026, at Eastern Time, virtually at www.virtualshareholdermeeting.com/ATKR2026SM. In order to attend the Special Meeting and vote electronically during the Special Meeting, holders of record of shares of Common Stock as of the Record Date will need the 16-digit control number found on the enclosed proxy card. |
Q: | What am I being asked to vote on at the Special Meeting? |
A: | At the Special Meeting, Atkore stockholders will be asked to vote on the following proposals: |
• | a proposal to adopt the Merger Agreement, a copy of which is attached as Annex A to this proxy statement and which is further described in the section titled “The Merger Agreement,” pursuant to which, among other things, at the Effective Time, Merger Sub will merge with and into Atkore, with Atkore surviving as a wholly owned subsidiary of Prysmian (the Merger Proposal); |
• | an advisory (non-binding) proposal to approve the compensation that will or may be paid or become payable to Atkore’s named executive officers in connection with the completion of the Merger (the Compensation Proposal); and |
• | a proposal to approve the adjournment of the Special Meeting to a later date or dates, if necessary or appropriate, to solicit additional proxies if a quorum is not present or in the event that there are not sufficient votes at the time of the Special Meeting to approve the Merger Proposal (the Adjournment Proposal). |
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Q: | Who is entitled to vote at the Special Meeting? |
A: | The Record Date for the Special Meeting is 5:00 p.m. Eastern Time on , 2026. Only record holders of shares of Common Stock as of the Record Date are entitled to notice of and vote at the Special Meeting or any adjournment or postponement thereof. |
Q: | How does the Board recommend that I vote? |
A: | The Board unanimously recommends that the holders of shares of Common Stock vote “FOR” the Merger Proposal, “FOR” the Compensation Proposal and “FOR” the Adjournment Proposal. See “The Merger—Recommendation of the Board; Reasons for the Merger.” |
Q: | Why am I being asked to cast an advisory (non-binding) vote to approve the compensation that will or may be paid or become payable to Atkore’s named executive officers in connection with the completion of the Merger? |
A: | Section 14A of the Exchange Act and the applicable SEC rules thereunder, which were implemented as part of the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010, require Atkore to provide its stockholders with the opportunity to vote to approve, on a non-binding, advisory basis, the compensation that will or may be paid or become payable to Atkore’s named executive officers in connection with the completion of the Merger, including the payments summarized in the “golden parachute compensation” table and the related narrative compensation disclosures regarding Atkore’s named executive officers set forth in “The Merger—Quantification of Potential Payments and Benefits to Atkore’s Named Executive Officers in Connection with the Merger.” Accordingly, Atkore stockholders are being provided with the opportunity to cast an advisory vote on these change-of-control payments. |
Q: | What will happen if Atkore stockholders do not approve the advisory Compensation Proposal? |
A: | The vote on the Compensation Proposal is separate and apart from the vote to approve the Merger Proposal. As an advisory vote, the Compensation Proposal is not binding upon Atkore, the Board or the Human Resources and Compensation Committee of the Board, and approval of the Compensation Proposal is not a condition to completion of the Merger. Accordingly, if the Merger is completed, the compensation payments described in the Compensation Proposal that are contractually required to be paid or become payable to Atkore’s named executive officers will remain in place, subject only to the existing terms and conditions applicable thereto, regardless of the outcome of the advisory (non-binding) vote of Atkore stockholders on the Compensation Proposal. |
Q: | How many votes do I have? |
A: | With respect to each proposal to be presented at the Special Meeting, each holder of Common Stock as of the Record Date is entitled to one vote for each share of Common Stock owned as of the Record Date. As of the Record Date, there were shares of Common Stock outstanding. |
Q: | What constitutes a quorum at the Special Meeting? |
A: | The holders of a majority of the outstanding shares of Common Stock as of the Record Date, present virtually or represented by proxy, will constitute a quorum for the transaction of business at the Special Meeting. Shares for which valid proxies are delivered or that are held of record by an Atkore stockholder who attends the Special Meeting virtually will be considered part of the quorum. In addition, if your shares of Common Stock are held in “street name” by your bank, brokerage firm or other nominee and you obtain a “legal proxy” executed in your favor |
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Q: | What vote is required to approve each proposal at the Special Meeting? |
A: | Approval of the Merger Proposal requires the affirmative vote of the holders of a majority of the outstanding shares of Common Stock as of the Record Date. Abstentions from voting and failures to vote (including failure to instruct your bank, brokerage firm or other nominee on how to vote your shares of Common Stock) will have the same effect as a vote “AGAINST” the approval of the Merger Proposal. |
Q: | Who can adjourn the Special Meeting? |
A: | The Special Meeting may be adjourned by the vote of a majority of the shares of Common Stock present virtually or represented by proxy at the Special Meeting on one or more occasions for the purpose of soliciting additional proxies, if there is an insufficient number of shares of Common Stock present (either virtually or by proxy) to constitute a quorum or an insufficient number of shares of Common Stock have been voted virtually or by proxy in favor of the approval of the Merger Proposal, subject to the prior written consent of Prysmian in certain circumstances, as required by the Merger Agreement. In addition, the Special Meeting may be adjourned by the chairperson of the meeting. See “The Special Meeting—Adjournments.” |
Q: | How do I vote if I am a stockholder of record? |
A: | If you were a record holder of Common Stock as of the Record Date for the Special Meeting, you may vote by attending the Special Meeting virtually or, to ensure that your shares of Common Stock are represented at the Special Meeting, vote or authorize a proxy to vote in advance of the Special Meeting using one or more of the following methods, as instructed on your proxy card: |
• | Internet. You may submit a proxy electronically via the internet by following the instructions on your enclosed proxy card. You will need the control number that appears on your proxy card to vote online. Internet voting facilities will be available 24 hours a day and will close at 11:59 p.m. Eastern Time on , 2026, the day prior to the Special Meeting. |
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• | Telephone. You may submit a proxy by telephone by following the instructions set forth on your enclosed proxy card. The telephone number is toll-free (within the U.S. and Canada), at no charge to the holders of shares of Common Stock. Please have your proxy card in hand when you call. Telephone voting facilities will be available 24 hours a day and will close at 11:59 p.m. Eastern Time on , 2026, the day prior to the Special Meeting. |
• | Mail. You may indicate your vote by completing, signing and dating the accompanying proxy card and returning it in the enclosed postage-paid reply envelope. If you vote this way, make sure you mail your proxy card early enough so that it is received prior to the closing of the polls at the Special Meeting. |
• | Virtually. You may vote your shares of Common Stock at the Special Meeting if you attend the Special Meeting, which will be held virtually at www.virtualshareholdermeeting.com/ATKR2026SM. |
Q: | My shares are held in “street name” by my bank, brokerage firm or other nominee. Will my bank, brokerage firm or other nominee automatically vote my shares for me? |
A: | If your shares of Common Stock are held through a bank, brokerage firm or other nominee, you are considered the “beneficial holder” of the shares held for you in what is known as “street name.” The “record holder” of such shares is your bank, brokerage firm or other nominee, and not you. If this is the case, this proxy statement has been or will be forwarded to you by your bank, brokerage firm or other nominee. You must provide the record holder of your shares of Common Stock with instructions on how to vote your shares. Otherwise, your bank, brokerage firm or other nominee will not vote your shares on any of the proposals to be considered at the Special Meeting. |
Q: | What is a “broker non-vote”? |
A: | A broker non-vote occurs when shares held by a bank, brokerage firm or other nominee are represented at a meeting, but the bank, brokerage firm or other nominee has not received voting instructions from the beneficial owner and does not have the discretion to direct the voting of the shares on a particular proposal (a “non-routine” proposal) but has discretionary voting power on other proposals at such meeting. |
Q: | What will happen if I return my proxy card without indicating how to vote? |
A: | If you properly complete and sign your proxy card but do not indicate how your shares of Common Stock should be voted on a proposal, the shares of Common Stock represented by your proxy will be voted in accordance with the recommendation of the Board, which is “FOR” the Merger Proposal, “FOR” the Compensation Proposal and “FOR” the Adjournment Proposal. |
Q: | Can I change my vote or revoke my proxy after I have returned a proxy or voting instruction card? |
A: | Yes. If you are the record holder of Common Stock, you can change your vote or revoke your proxy at any time before your proxy is exercised at the Special Meeting. You can do this by: |
• | timely delivering a signed written notice of revocation at the address listed below; |
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• | logging on to the internet website specified on your proxy card in the same manner you would to submit your proxy electronically or calling the telephone number specified on your proxy card and following the instructions on your proxy card; |
• | timely delivering a new, validly executed proxy card bearing a later date than your original proxy card by mail to Vote Processing, c/o Broadridge, 51 Mercedes Way, Edgewood, NY 11717; or |
• | attending the Special Meeting and voting virtually, which will automatically revoke any proxy previously given. Attending the Special Meeting without voting will not revoke any proxy that you may have previously given or change your vote. |
Q: | Who will count the votes? |
A: | Atkore expects to appoint Broadridge Financial Solutions, Inc. (“Broadridge”) to serve as the inspector of election for the Special Meeting. The inspector of election will, among other matters, determine the number of shares of Common Stock entitled to vote at the Special Meeting that are represented at the Special Meeting to confirm the existence of a quorum for the Special Meeting, determine the validity of all proxies and ballots and certify the results of voting on the Merger Proposal, the Compensation Proposal and the Adjournment Proposal submitted to stockholders. |
Q: | Who will solicit and pay the cost of soliciting proxies? |
A: | Atkore is soliciting proxies for the Special Meeting from holders of shares of Common Stock. In addition to solicitation of proxies by mail, proxies may be solicited by Atkore’s directors, officers and employees, without additional compensation, in person, by telephone, email or other means of communication. |
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Q: | Where can I find the voting results of the Special Meeting? |
A: | The preliminary voting results will be announced at the Special Meeting. In addition, within four business days of the Special Meeting, Atkore will disclose the final voting results on a Current Report on Form 8-K filed with the SEC. |
Q: | How do Atkore’s directors and executive officers intend to vote? |
A: | As of the Record Date, Atkore directors and executive officers were entitled to vote shares of Common Stock, or approximately % of the total number of shares of Common Stock outstanding at that time. We currently expect that all of Atkore’s directors and executive officers will vote their shares of Common Stock “FOR” each of the proposals to be presented at the Special Meeting. For more information regarding the security ownership of Atkore’s directors and executive officers, see the section titled “Security Ownership of Certain Beneficial Owners and Management.” |
Q: | Do any of Atkore’s directors or executive officers have interests in the Merger that may differ from my interests as a stockholder generally? |
A: | Yes. In considering the Merger Proposal, you should be aware that Atkore’s directors and executive officers have interests in the Merger that may be different from, or in addition to, the interests of Atkore stockholders generally. These interests are described in more detail in the sections titled “The Merger—Interests of Atkore’s Directors and Executive Officers in the Merger” and “The Merger—Quantification of Potential Payments and Benefits to Atkore’s Named Executive Officers in Connection with the Merger.” The Board was aware of these interests and considered them when evaluating and negotiating the Merger Agreement, in approving the Merger Agreement and the Merger and in making its recommendation. |
Q: | Are there any risks that I should consider in deciding whether to vote for the approval of the Merger Proposal? |
A: | Yes. You should read and carefully consider the risk factors of Atkore contained in the documents that are incorporated by reference into this proxy statement, including in “Item 1A. Risk Factors” in Atkore’s Annual Report on Form 10-K for the fiscal year ended September 30, 2025, Atkore’s Quarterly Report on Form 10-Q for the quarter ended June 26, 2026 and any updates to those risk factors contained in subsequent reports incorporated by reference into this proxy statement, along with the other information in this proxy statement, including the section titled “Cautionary Statement Regarding Forward-Looking Statements.” See “Where You Can Find More Information.” |
Q: | Are appraisal rights available in the Merger? |
A: | Yes. Under Section 262 of the DGCL, if the Merger is completed and certain conditions under Section 262(g) of the DGCL are satisfied, holders of record and beneficial owners of shares of Common Stock who (i) have delivered a written demand for appraisal of such holder’s or owner’s shares of Common Stock in compliance with Section 262 of the DGCL to Atkore prior to the vote on the Merger Proposal, (ii) do not vote, in person or by proxy, in favor of the Merger Proposal, (iii) continuously hold of record or beneficially own such shares on the date of making the demand for appraisal through the Effective Time, and (iv) otherwise comply with the statutory requirements set forth in Section 262 of the DGCL are entitled to have their shares of Common Stock appraised by the Delaware Court of Chancery and to receive payment in cash, in lieu of the Merger Consideration, for the “fair value” of their shares of Common Stock, exclusive of any element of value arising from the accomplishment or expectation of the Merger, together with (unless the Delaware Court of Chancery in its discretion determines otherwise for good cause shown) interest, if any, on the amount determined by the Delaware Court of Chancery to be the “fair value.” The “fair value” of such shares of Common Stock, as determined by the Delaware Court of Chancery, may be less than, equal to or more than the Merger Consideration. |
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Q: | What happens if I sell or otherwise transfer my shares of Common Stock after the Record Date but before the Special Meeting? |
A: | The Record Date is earlier than the date of the Special Meeting and earlier than the date that the Merger is expected to be completed. If you sell or otherwise transfer your shares of Common Stock entitled to vote at the Special Meeting after the Record Date but before the date of the Special Meeting, you will retain your right to vote at the Special Meeting. |
Q: | What does it mean if I receive more than one set of materials? |
A: | This means you own shares of Common Stock that are registered under different names. For example, you may own some shares directly as a stockholder of record and other shares through a bank, brokerage firm or other nominee or you may own shares through more than one bank, brokerage firm or other nominee. In these situations, you will receive multiple sets of proxy materials. You must complete, sign, date and return all of the proxy cards or follow the instructions for any alternative voting procedure on each of the voting instruction forms you receive in order to vote all of the shares of Common Stock that you own. Each proxy card you receive will come with its own self-addressed, stamped envelope; if you submit your proxy by mail, make sure you return each proxy card in the return envelope that accompanied that proxy card. If you submit your proxy by mail, make sure you mail each proxy card early enough so that it is received prior to the closing of the polls at the Special Meeting. |
Q: | How can I find out more information? |
A: | For more information about Atkore, as well as about the Merger Agreement, the Merger and the Special Meeting, see “Where You Can Find More Information.” |
Q: | Who can help answer any other questions I may have? |
A: | The information provided above in the question-and-answer format is for your convenience only and is merely a summary of some of the information in this proxy statement. You should carefully read the entire proxy statement, including its annexes and the documents incorporated by reference herein. You may also wish to consult your legal, tax and/or financial advisors with respect to any aspect of the Merger, the Merger Agreement or other matters discussed in this proxy statement. |
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• | the completion of the Merger may not occur on the anticipated terms and timing or at all; |
• | the occurrence of any event, change or other circumstances that could give rise to the termination of the Merger; |
• | the risk that Atkore stockholders may not approve the Merger Proposal; |
• | the risk that the necessary regulatory approvals for the Merger may not be obtained or may be obtained subject to conditions that are not anticipated; |
• | the risk that any of the closing conditions to the Merger may not be satisfied in a timely manner; |
• | risks related to litigation brought in connection with the Merger; |
• | risks related to disruption of management time from ongoing business operations due to the Merger; |
• | effects of the announcement, pendency or completion of the Merger on Atkore’s ability to retain customers, attract and retain key personnel or employees and maintain relationships with its suppliers, agents, distributors, vendors and other business partners, and on its operating results and business generally; |
• | negative effects of the announcement or the consummation of the Merger on the market price of the Common Stock; |
• | risks related to the potential impact of general economic, political and market factors on Atkore or the Merger; |
• | inherent uncertainties involved in the estimates and assumptions used in the preparation of financial projections; |
• | the response of Atkore or Prysmian management to any of the aforementioned factors; and |
• | other risks detailed in Atkore’s filings with the SEC, including “Item 1A. Risk Factors” in Atkore’s Annual Report on Form 10-K for the fiscal year ended September 30, 2025 and Atkore’s subsequent Quarterly Reports on Form 10-Q and Current Reports on Form 8-K. See “Where You Can Find More Information.” |
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• | Approval of the Merger Proposal requires the affirmative vote of the holders of a majority of the outstanding shares of Common Stock as of the Record Date. Abstentions from voting and failures to vote (including failure to instruct your bank, brokerage firm or other nominee on how to vote your shares of Common Stock) will have the same effect as a vote “AGAINST” the approval of the Merger Proposal. |
• | Assuming a quorum is present, approval of the Compensation Proposal on an advisory (non-binding) basis requires the affirmative vote of the holders of a majority of the shares of Common Stock present virtually |
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• | Approval of the Adjournment Proposal requires the affirmative vote of the holders of a majority of the shares of Common Stock present virtually or represented by proxy at the Special Meeting, whether or not a quorum is present. If you attend the Special Meeting or are represented by proxy and, in either case, abstain from voting, that abstention will have the same effect as voting “AGAINST” the approval of the Adjournment Proposal. Failures to vote will have no effect on the vote for the Adjournment Proposal. |
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• | timely delivering a signed written notice of revocation at the address listed below; |
• | logging on to the internet website specified on your proxy card in the same manner you would to submit your proxy electronically or calling the telephone number specified on your proxy card and following the instructions on your proxy card; |
• | timely delivering a new, validly executed proxy card bearing a later date than your original proxy card by mail to Vote Processing, c/o Broadridge, 51 Mercedes Way, Edgewood, NY 11717; or |
• | attending the Special Meeting and voting virtually, which will automatically revoke any proxy previously given. Attending the Special Meeting without voting will not revoke any proxy that you may have previously given or change your vote. |
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• | Prysmian submitted a non-binding indication of interest for Atkore offering $87.00 per share in cash. Prysmian’s offer did not take into account potential liabilities from the Antitrust and Related Matters and remained subject to customary due diligence. |
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• | Bidder C submitted a non-binding indication of interest for Atkore offering $80.00 per share, consisting of $20.00 per share in cash and $60.00 per share in Bidder C’s common stock. Bidder C’s offer assumed completion of the HDPE divestiture and did not take into account potential liabilities from the Antitrust and Related Matters. Bidder C’s proposal was expressly contingent on satisfactory completion of diligence regarding the Antitrust and Related Matters and Bidder C reserved the right to adjust valuation, structure, risk allocation or timing based on the results of that diligence. |
• | A potential strategic bidder (“Bidder D”) submitted a non-binding indication of interest to acquire certain assets comprising Atkore’s “conduit business” in an asset sale and expressly stated that it was not interested at that time in acquiring Atkore as a whole. Bidder D did not provide a clear perspective on the transaction perimeter intended with the reference to the “conduit business,” or an indicative valuation, which it stated could be provided at a later stage following agreement on the transaction scope and review of the related financial profile of the conduit business. Bidder D’s indication of interest excluded the assumption of liabilities relating to the Antitrust and Related Matters. |
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• | Prysmian submitted a non-binding indication of interest for Atkore offering a price of $90.00 per share in cash. Prysmian stated that its proposed price took into account its then-current assessment of potential liabilities from the Antitrust and Related Matters, subject to further diligence and refinement. |
• | Bidder C submitted a non-binding indication of interest to acquire Atkore for $84.00 per share, with $24.00 per share in cash and the balance in newly issued shares of Bidder C’s common stock, reflecting a lower price than its May 10, 2026 verbal proposal. Bidder C stated that its proposed price reflected its |
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• | Other bids received included (i) an all-cash offer for Atkore from a financial sponsor (“Bidder E”) at a price ranging from $81.00 to $84.00 per share, which reflected Bidder E’s then-current assessment of Atkore’s potential off-balance sheet liabilities, including the Antitrust and Related Matters, and (ii) an all-cash offer from Bidder A for Atkore’s “Cable & Accessories Business” valued at a range of 10.0x to 11.5x FY2026 normalized EBITDA. |
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• | Premium to Market Price of the Common Stock. The fact that the Merger Consideration to be paid by Prysmian provides the holders of shares of Common Stock with the opportunity to receive a meaningful premium over the trading price of the Common Stock, including the fact that the Merger Consideration represents: |
• | a premium of approximately 30% to Atkore’s closing share price of $72.96 on July 31, 2026, the last trading day prior to the public announcement of the Merger; and |
• | a premium of approximately 57% to Atkore’s closing share price of $60.69 on September 29, 2025, the last trading day before Atkore announced its initial strategic review. |
• | Certainty of Value to Stockholders. The fact that the Merger Consideration will be paid entirely in cash, which will allow the holders of shares of Common Stock to realize, upon Closing, a certainty of value without the market, economic and other risks that arise from owning an equity interest in a public company. The certainty of all-cash consideration also removes any valuation risk for Atkore stockholders associated with consideration that consists in whole or in part of stock or other variable or contingent consideration. |
• | Atkore’s Business. The fact that the Merger Consideration compares favorably to the potential value of Atkore and the Common Stock if Atkore were to remain as a standalone entity, after taking into account the Board’s understanding of Atkore’s business, operations, financial condition, earnings, prospects and competitive position, and the nature of the industry in which Atkore competes, including the short- and long-term risks, uncertainties and challenges facing Atkore and the industry, and the Board’s review of Atkore’s business plan and the historical and projected future financial performance of Atkore. |
• | Strategic Review Process. The strategic review process was undertaken by Atkore over the course of many months, with the assistance of its legal and financial advisors. The Board considered, among other things: |
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• | its evaluation of a broad range of potential strategic alternatives, including continuing to operate Atkore as an independent public company, potential acquisitions to transform Atkore’s portfolio, potential dispositions of portions of Atkore’s business and a potential sale or other business combination involving Atkore as a whole; |
• | the fact that, on September 29, 2025, Atkore publicly announced a strategic review process to increase stockholder value and, on November 20, 2025, Atkore publicly announced that the Board had expanded its review of strategic alternatives to include a potential sale or merger of the whole company, which gave any interested potential counterparty an opportunity to inquire about the process and express interest in a transaction involving Atkore; and |
• | the fact that the Merger is the culmination of a strategic review process that included (i) engagement with 28 potential counterparties in October through December 2025, consisting of strategic parties and financial sponsors, and the receipt of four indications of interest from such parties and (ii) engagement with 10 potential counterparties in May 2026, including two new potential counterparties, and the receipt of four indications of interest from such parties, which ultimately resulted in the receipt of indications of interest from six distinct parties over the course of the process and final proposals from two parties, with Prysmian submitting the highest all-cash offer, as described under the section titled “—Background of the Merger”. |
• | Treatment of Litigation-Related Liabilities. The fact that Prysmian’s $95.00 per share all-cash proposal took into account the potential exposure associated with Atkore’s pending litigation matters into Atkore’s valuation, thereby providing Atkore stockholders with certainty of value with respect to such exposure (see the section titled “—Background of the Merger”). |
• | Negotiation Process. Atkore’s comprehensive negotiation process with Prysmian. The Board considered, among other things: |
• | the fact that Atkore’s management, at the direction and under the oversight of the Board, negotiated vigorously with Prysmian with respect to price and other terms of the Merger Agreement, including obtaining increases in Prysmian’s proposed price from $87.00 per share in its initial proposal, which was qualified as to Prysmian’s evaluation of Atkore’s pending litigation matters, to the $95.00 per share Merger Consideration, which took into account the potential net exposure associated with Atkore’s pending litigation matters; |
• | the terms and values of the other proposals received by Atkore during the strategic review process and the relative merits of those proposals as compared to Prysmian’s proposal; and |
• | the conclusion reached by the Board, after discussions with Atkore’s management and financial advisors, as well as negotiations with Prysmian, that the Merger Consideration is in the best interests of Atkore and Atkore stockholders and reflects a full value for the outstanding Common Stock. |
• | Stockholder Feedback. The fact that Atkore’s management and the Board received feedback from significant Atkore stockholders regarding Atkore’s business, strategy and potential strategic alternatives, including initiation of the comprehensive strategic review process. Feedback from significant Atkore stockholders indicated support for Atkore’s evaluation of a potential sale of the whole company as part of its strategic review process. |
• | Financing. Considerations relating to the financing of the transactions contemplated by the Merger Agreement, including the following: |
• | the fact that the receipt or availability of financing by Prysmian is not a condition to the Merger or to Prysmian’s or Merger Sub’s obligations under the Merger Agreement; |
• | the fact that, in connection with the execution of the Merger Agreement, Prysmian entered into a debt commitment letter pursuant to which the third-party lenders party thereto committed to provide debt financing to Prysmian to facilitate Prysmian’s acquisition of Atkore through the Merger; and |
• | the representation of Prysmian in the Merger Agreement that, at the Closing, it will have sufficient funds available to pay all amounts required to be paid by Prysmian, Merger Sub or the surviving corporation in connection with the transactions contemplated by the Merger Agreement. |
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• | Terms of the Merger Agreement. Considerations relating to the terms of the Merger Agreement, including the following: |
• | the belief of the Board that the terms and conditions of the Merger Agreement, including, but not limited to, the representations, warranties and covenants of the parties and the conditions to closing, are reasonable and customary; |
• | Prysmian’s commitment under the Merger Agreement to use reasonable best efforts to obtain regulatory approvals for the Merger and to take all actions necessary to avoid or eliminate regulatory impediments to the Merger so as to enable the Closing to occur as promptly as practicable, including agreeing to remedial actions affecting Atkore’s business, subject to negotiated limitations; |
• | the provisions of the Merger Agreement providing for two automatic three-month extensions of the End Date (as defined below) of August 2, 2027 if the specified regulatory conditions remain outstanding and the other applicable conditions to closing have been satisfied or waived; |
• | the fact that the Merger Agreement does not preclude a third party from making an unsolicited Acquisition Proposal (as defined in the section “The Merger Agreement—Covenants and Agreements—No Solicitation”) and, under specified circumstances more fully described in the sections titled “The Merger Agreement—Covenants and Agreements—No Solicitation” and “The Merger Agreement—Covenants and Agreements—Board Recommendation”: |
• | Atkore may furnish nonpublic information to and engage in discussions or negotiations with the third party; |
• | the Board may withdraw or modify its recommendation to Atkore stockholders regarding the Merger in response to a Company Superior Proposal (as defined in the section “The Merger Agreement—Covenants and Agreements—No Solicitation”); and |
• | Atkore may terminate the Merger Agreement in order to enter into a definitive agreement providing for a Company Superior Proposal; |
• | the fact that, under specified circumstances, the Board may withdraw or modify its recommendation to Atkore stockholders regarding the Merger in response to an Intervening Event (as defined in the section “The Merger Agreement—Covenants and Agreements—Board Recommendation”); and |
• | the Board’s belief that the Company Termination Fee of $115.92 million is reasonable and would not preclude another party from making a Company Superior Proposal. |
• | Opinion of Citi. The financial analyses presented to the Board by Citi and the oral opinion rendered by Citi to the Board, which was confirmed by delivery of a written opinion, dated August 2, 2026, to the effect that, as of that date and based on and subject to various assumptions made, procedures followed, matters considered and limitations and qualifications on the review undertaken by Citi as set forth in its written opinion, the Merger Consideration to be received by the holders of Common Stock in the Merger pursuant to the Merger Agreement was fair, from a financial point of view, to such holders, as more fully described below in the section titled “—Opinions of Atkore’s Financial Advisors—Opinion of Citigroup Global Markets Inc.” |
• | Opinion of J.P. Morgan. The financial analyses presented to the Board by J.P. Morgan and the oral opinion rendered by J.P. Morgan to the Board, which was confirmed by delivery of its written opinion, dated August 3, 2026, to the effect that, as of the date of such opinion, and based upon and subject to the assumptions made, procedures followed, matters considered, and limitations on the review undertaken by J.P. Morgan in preparing its opinion, the Merger Consideration to be paid to the holders of Common Stock in the Merger was fair, from a financial point of view, to such holders, as more fully described below in the section titled “—Opinions of Atkore’s Financial Advisors—Opinion of J.P. Morgan Securities LLC.” |
• | Likelihood of Closing. The likelihood that the transactions contemplated by the Merger Agreement, including the Merger, would be completed, based on, among other things: |
• | the reasonable and customary conditions to Prysmian’s obligation to consummate the Merger as provided by the Merger Agreement, including the absence of any financing condition; |
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• | the commitment of Prysmian under the Merger Agreement to use reasonable best efforts to obtain regulatory approvals for the Merger as described above; |
• | the likelihood and anticipated timing of obtaining all required regulatory approvals in connection with the Merger; |
• | Atkore’s ability, under certain circumstances pursuant to the Merger Agreement, to seek specific performance to prevent breaches of the Merger Agreement and to enforce specifically the terms of the Merger Agreement, as described under the section titled “The Merger Agreement—Specific Performance”; |
• | the fact that the lenders to Prysmian are experienced and internationally recognized financial institutions; and |
• | the fact that the Guarantor, a creditworthy subsidiary of Prysmian located in the United States, has agreed to guarantee the payment obligations of Prysmian and Merger Sub under the Merger Agreement. |
• | Appraisal Rights. The availability of appraisal rights to the holders of Common Stock who timely and properly exercise their rights under the DGCL, which rights provide the holders of Common Stock with the opportunity to have the Delaware Court of Chancery appraise the fair value of their Common Stock. |
• | Opportunity for Atkore Stockholders to Vote. The fact that the consummation of the Merger is subject to the adoption of the Merger Agreement by holders of a majority of the outstanding shares of Common Stock, and Atkore stockholders are free to evaluate the Merger and vote for or against the Merger Proposal at the Special Meeting. |
• | No Vote of Prysmian Stockholders. The fact that the Merger is not subject to any required approval by Prysmian’s stockholders, and the attendant conditionality and execution risk of any such vote. |
• | No Stockholder Participation in Further Growth. The fact that Atkore would no longer exist as an independent, publicly traded company, and the holders of Common Stock would no longer participate in any future earnings or growth, or benefit from any potential future appreciation in value of, Atkore. |
• | Certainty of Closing. The risk that the Merger may not be completed in the time or manner currently anticipated or at all, including due to: |
• | the risk of possible failure to obtain the regulatory approvals required for the Closing of the Merger; |
• | the risk that the holders of Common Stock may not approve the Merger; |
• | the risk that legal proceedings could be instituted against Atkore in connection with the Merger; |
• | the fact that the Merger is subject to a number of closing conditions, some of which are outside of Atkore’s control; and |
• | the fact that an event, change or other circumstance may occur that could give rise to the right of one or both of the parties to terminate the Merger Agreement. |
• | Timing of Closing. The amount of time it could take from the date the Merger Agreement was signed to obtain the regulatory approvals required for the Closing of the Merger, including that an extended period of time may exacerbate the impact of other risks considered by the Board described in this section of this proxy statement. |
• | Regulatory Risk. The risk that a governmental entity may oppose or refuse to approve the Merger or seek to impose conditions on Atkore, Prysmian or any of their respective affiliates in connection with approving the Merger, including conditions or remedies that Prysmian is not required to accept under the terms of the Merger Agreement, which could delay or prevent the consummation of the Merger. |
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• | Impact of the Pendency of the Merger. The potential negative effect of the announcement and pendency of the Merger on Atkore’s business, including on Atkore’s ability to retain customers, attract and retain key personnel and maintain relationships with suppliers, agents, distributors, vendors and other business partners, and on Atkore’s operating results and business generally. |
• | Disruption to Business Operations. The substantial time and effort of management required to consummate the Merger, which could disrupt Atkore’s business operations and divert management’s attention from ongoing business operations and opportunities. |
• | Interim Operating Covenants. The fact that restrictions on the conduct of Atkore’s business prior to consummation of the Merger could delay or prevent Atkore from undertaking business opportunities that arise pending consummation of the Merger, which opportunities might be lost to Atkore if the Merger were not to be consummated. |
• | Loss of Opportunity with Other Potential Counterparties. Terms of the Merger Agreement that, either individually or in combination, could discourage potential acquirors from making a competing proposal to acquire Atkore, including the terms of the Merger Agreement placing certain limitations on the ability of Atkore to solicit, initiate, induce, propose, knowingly encourage or knowingly facilitate an Acquisition Proposal or engage, participate or continue in any discussions or negotiations regarding, or disclose any non-public information in connection with, an Acquisition Proposal. |
• | Termination Fee. The fact that, under certain circumstances, including if (i) Prysmian terminates the Merger Agreement because the Board effects a Change in the Board Recommendation (as defined in the section “The Merger Agreement—Covenants and Agreements—Board Recommendation”) or (ii) Atkore terminates the Merger Agreement in order to enter into a definitive agreement providing for a Company Superior Proposal, Atkore would be required to pay Prysmian a $115.92 million termination fee upon termination of the Merger Agreement (as further described in the section titled “The Merger Agreement—Termination of the Merger Agreement—Company Termination Fee”). |
• | Costs. The substantial costs being incurred in connection with the Merger and the transactions contemplated by the Merger Agreement. |
• | Tax Treatment of the Common Stock. The fact that the receipt of the Merger Consideration will be a taxable transaction for Atkore’s stockholders for U.S. federal income tax purposes. |
• | Effect on Pending Derivative Litigation. The fact that, as a result of the Merger, Atkore’s stockholders will cease to be stockholders of Atkore and will not benefit from any potential recovery on the derivative litigation claims belonging to Atkore (see the section titled “—Legal Proceedings”). |
• | Interests of Directors and Executive Officers. The fact that some of Atkore’s directors and executive officers may have interests in the Merger that are different from, or in addition to, their interests as the holders of Common Stock (see the section titled “—Interests of Atkore Directors and Executive Officers in the Merger”). |
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• | reviewed a draft, dated August 2, 2026, of the Merger Agreement and held discussions with certain senior officers, directors and other representatives and advisors of Atkore concerning the business, operations and prospects of Atkore; |
• | reviewed certain publicly available business and financial information relating to Atkore provided to or discussed with Citi by the management of Atkore, including certain financial forecasts and other information and data relating to Atkore which were prepared and provided to or discussed with Citi by the management of Atkore; |
• | reviewed the financial terms of the Merger as set forth in the Merger Agreement in relation to, among other things: current and historical market prices and trading volumes of the Common Stock; certain historical and projected earnings and other operating data of Atkore; and the capitalization and financial condition of Atkore; and |
• | considered, to the extent publicly available, the financial terms of certain other transactions which Citi considered relevant in evaluating the Merger and analyzed certain financial, stock market and other publicly available information relating to the businesses of certain other companies whose operations Citi considered relevant in evaluating those of Atkore. |
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Company | Enterprise Value / 2026E EBITDA (“EV / 2026E EBITDA”) | ||
AZZ, Inc. | 12.4x | ||
Belden Inc. | 11.4x | ||
Nexans S.A. | 9.2x | ||
Nucor Corporation | 8.3x | ||
Orbia | 6.5x | ||
Prysmian | 14.6x | ||
Valmont Industries, Inc. | 13.4x | ||
Westlake Corporation | 6.3x | ||
Target | Acquiror | Month / Year Announced | Firm Value / EBITDA (“FV / EBITDA”) | ||||||
Republic Wire, Inc. | Nexans S.A. | April 2026 | 11.3x(1) | ||||||
Encore Wire | Prysmian S.p.A. | April 2024 | 8.2x(2) | ||||||
ECM Industries, LLC | nVent Electric plc | April 2023 | 10.6x(3) | ||||||
Precoat Metal | AZZ Inc. | March 2022 | 9.3x(4) | ||||||
(1) | Represents FV / 2025 EBITDA. |
(2) | Represents FV / 2023 EBITDA. |
(3) | Represents FV / last 12 months EBITDA as of February 28, 2023. |
(4) | Represents FV / last 12 months EBITDA as of December 31, 2021. |
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• | reviewed the Merger Agreement; |
• | reviewed certain publicly available business and financial information concerning Atkore and the industries in which it operates; |
• | compared the proposed financial terms of the Merger with the publicly available financial terms of certain transactions involving companies J.P. Morgan deemed relevant and the consideration paid for such companies; |
• | compared the financial and operating performance of Atkore with publicly available information concerning certain other companies J.P. Morgan deemed relevant and reviewed the current and historical market prices of the Common Stock and certain publicly traded securities of such other companies; |
• | reviewed certain internal financial analyses and forecasts prepared by or at the direction of the management of Atkore relating to its business; and |
• | performed such other financial studies and analyses and considered such other information as J.P. Morgan deemed appropriate for the purposes of its opinion. |
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• | Gibraltar Industries, Inc. |
• | Nucor Corporation |
• | Westlake Corporation |
• | Advanced Drainage Systems, Inc. |
• | Trex Company, Inc. |
Transaction Announcement | Acquiror | Target | ||||
November 2025 | Gibraltar Industries, Inc. | OmniMax International | ||||
April 2024 | Prysmian S.p.A. | Encore Wire Corporation | ||||
April 2023 | nVent Electric plc | ECM Industries | ||||
March 2022 | AZZ Inc. | Precoat Metals | ||||
December 2017 | Prysmian S.p.A. | General Cable Corporation | ||||
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Three Months Ending September 30, | Fiscal Year Ending September 30, | |||||||||||||||||
($ in millions) | 2026E | 2026E(1) | 2027E | 2028E | 2029E | 2030E | ||||||||||||
Net Sales | $811 | $2,913 | $2,952 | $3,152 | $3,372 | $3,597 | ||||||||||||
Adjusted EBITDA Pre-SBC(2) | $106 | $376 | $410 | $471 | $527 | $587 | ||||||||||||
Unlevered Free Cash Flow(3) | $111 | $146 | $302 | $274 | $297 | $344 | ||||||||||||
Cash Tax Savings from Tax Attributes Utilization(4) | $— | $— | $49 | $15 | $— | $— | ||||||||||||
(1) | The Prospective Financial Information for fiscal year 2026 is adjusted to remove the financial impact of the divested operations of HDPE, Tectron Tube and Vergo Galva and Coatings facilities over the entire year as if such divestitures had been completed prior to fiscal year 2026. |
(2) | Adjusted EBITDA Pre-SBC is defined as net income (loss), adjusted to exclude income tax or benefit, depreciation and amortization, interest expense, net, stock-based compensation expense, loss on extinguishment of debt, gains and losses on the divestiture of a business, impairment of assets, certain legal matters, and other items, such as inventory reserves and adjustments, loss on disposal of property, plant and equipment, insurance recovery related to damages of property, plant and equipment, release of indemnified uncertain tax positions, realized or unrealized gain (loss) on foreign currency impacts of intercompany loans and related forward currency derivatives, gain on purchase of business, loss on assets held for sale, restructuring costs and transaction costs. |
(3) | Unlevered Free Cash Flow is defined as Adjusted EBITDA Pre-SBC less stock-based compensation expense, tax expense (after adjustment for depreciation expense) and capital expenditures, and adjusted to reflect changes in net working capital. As a result, Unlevered Free Cash Flow excludes the cash flow impact of settled litigation claims, proceeds from divestitures and plant shutdown costs. Unlevered Free Cash Flow does not adjust for tax savings from the utilization of net operating losses and ordinary losses generated from the HDPE divestiture (“Tax Attributes”). |
(4) | Represents tax savings from the application of Atkore’s Tax Attributes on a standalone basis against management’s estimates of taxable income for fiscal years 2026 through 2030. The cash tax savings from the Tax Attributes utilization is derived assuming a 23.2% tax rate and Tax Attributes utilization limited to 80% of taxable income. |
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• | the Effective Time occurred on August 27, 2026, which is the latest practicable date prior to the filing of this proxy statement and is the assumed date of the Effective Time solely for the purposes of the disclosure in this section (the “Assumed Closing Date”); |
• | for each share of Common Stock underlying an Atkore equity-based award, the holder thereof was entitled to receive an amount in cash equal to $95.00, without interest and subject to applicable withholding taxes, which is the Merger Consideration; |
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• | each executive officer’s salary and target short-term cash incentive opportunities remain unchanged from those in effect on the Assumed Closing Date; and |
• | each executive officer and non-employee director experienced a Qualifying Termination (as defined below) on the Assumed Closing Date immediately following the Effective Time. |
• | each Company Option that is outstanding immediately prior to the Effective Time, whether or not vested, will be deemed fully vested and canceled and converted into the right to receive a cash payment from the surviving corporation in the Merger equal to the product obtained by multiplying (A) the excess, if any, of the Merger Consideration over the exercise price per share of such Company Option by (B) the total number of shares of Common Stock underlying such Company Option. Any Company Option with an exercise price per share that is equal to or greater than the Merger Consideration will be canceled for no consideration; |
• | each Company RSU that is outstanding immediately prior to the Effective Time, whether or not vested, will be deemed fully vested and canceled and converted into the right to receive a cash payment from the surviving corporation in the Merger equal to the product of (A) the Merger Consideration and (B) the total number of shares of Common Stock underlying such Company RSU. Any Company RSUs granted to an Atkore employee after August 2, 2026, if any and to the extent outstanding and unvested immediately prior to the Effective Time, will be converted into the contingent right to receive an amount in cash, without interest, equal to the product of (A) the Merger Consideration and (B) the total number of shares of Common Stock underlying such Company RSU, with such contingent right remaining subject to the same terms and conditions (including vesting schedule and pro rata vesting upon a Qualifying Termination), that applied to such Company RSU immediately prior to the Effective Time. No Company RSUs subject to the terms described in the immediately preceding sentence have been granted to any of Atkore’s executive officers as of the date of this proxy statement; |
• | each Company PSU that is outstanding immediately prior to the Effective Time, whether or not vested, will be canceled and converted into the right to receive a cash payment from the surviving corporation in the Merger equal to the product of (A) the Merger Consideration and (B) the total number of shares of Common Stock underlying such Company PSU. The number of shares of Common Stock underlying a Company PSU will be determined in accordance with the applicable terms of such Company PSU (as described further below); and |
• | each Company DSU that is outstanding immediately prior to the Effective Time, whether or not vested, will be deemed fully vested and canceled and converted into the right to receive a cash payment from the surviving corporation in the Merger equal to the product of (A) the Merger Consideration and (B) the total number of shares of Common Stock underlying such Company DSU. |
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Name | Company RSUs ($) | Company DSUs ($) | Total ($) | ||||||
Michael V. Schrock | 218,093 | — | 218,093 | ||||||
Franklin S. Edmonds, Jr. | 269,189 | — | 269,189 | ||||||
B. Joanne Edwards | 218,093 | 270,337 | 488,430 | ||||||
Jeri L. Isbell | 218,093 | 2,418,970 | 2,637,063 | ||||||
Wilbert W. James, Jr. | 218,093 | 1,409,260 | 1,627,353 | ||||||
Justin A. Kershaw | 218,093 | 1,556,827 | 1,774,920 | ||||||
Scott H. Muse | 218,093 | 2,340,315 | 2,558,408 | ||||||
Betty R. Wynn | 218,093 | 533,126 | 751,219 | ||||||
A. Mark Zeffiro | 218,093 | 1,084,731 | 1,302,824 | ||||||
Name | Company RSUs ($) | Company PSUs ($)(1) | Total Unvested ($) | Company Options ($)(2) | ||||||||
William E. Waltz, Jr. | 6,507,915 | 5,757,948 | 12,265,863 | 15,167,880 | ||||||||
John M. Deitzer | 1,274,710 | 1,255,157 | 2,529,867 | — | ||||||||
Daniel S. Kelly | 980,077 | 872,375 | 1,852,452 | 3,684,773 | ||||||||
Mark F. Lamps | 1,273,664 | 1,134,129 | 2,407,793 | 1,301,050 | ||||||||
John W. Pregenzer | 2,211,726 | 1,637,811 | 3,849,537 | 1,249,644 | ||||||||
James W. Alvey | 251,864 | 73,291 | 325,155 | — | ||||||||
LeAngela W. Lowe | 969,981 | 872,375 | 1,842,356 | 361,200 | ||||||||
(1) | The terms of the Company PSUs provide that in the event of a change in control, performance is to be calculated assuming achievement of the applicable performance-vesting criteria for in-progress performance periods at their (i) target performance if less than 50% of the three-year performance period has elapsed at the Closing and (ii) actual performance if greater than or equal to 50% of the three-year performance period has elapsed at the Closing. Accordingly, based on the Assumed Closing Date, Company PSUs with a performance period commencing in each of 2023 and 2024 (the “2023 PSUs” and “2024 PSUs,” respectively) have been calculated based on forecasted actual performance, while Company PSUs with a performance period commencing in 2025 (the “2025 PSUs”) have been calculated based on target performance. Performance for the 2023 PSUs is assumed to be 0%, while performance for the 2024 PSUs is assumed to be 50%. Performance for the 2025 PSUs is assumed to be target or 100%. In addition, for 2023 PSUs and 2024 PSUs, the number of shares subject to conversion (after giving effect to the performance determination described in the immediately foregoing sentence) has been pro-rated based on the percentage of the performance period completed prior to the assumed Closing. The value of Company PSUs outstanding at the actual Effective Time may differ depending on the actual level of achievement of applicable performance vesting criteria as of the Effective Time and the number of days in the performance period that have elapsed as of the Effective Time. |
(2) | All outstanding Company Options are fully vested. |
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• | a cash severance payment equal to the sum of (x) the participant’s then-current base salary multiplied by a “severance multiple” (as set forth below) plus (y) the average of the participant’s three most recent annual bonuses multiplied by the severance multiple; |
• | a pro-rated annual bonus payment for the fiscal year in which the termination occurs, based on actual performance of Company metrics and target performance of individual metrics, and generally payable in a lump sum on the date of payment of annual bonuses; and |
• | to the extent the participant elects COBRA continuation coverage, the provision of such coverage at active-employee rates for a period equal to the lesser of (x) 18 months and (y) the number of months of severance to which the participant would be entitled based on the severance multiple. |
Participant | Severance Multiple – Prior to Change in Control | Severance Multiple – Change in Control | ||||
CEO | 2.0 | 2.5 | ||||
Executive Officers | 1.0 | 1.5 | ||||
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• | a cash severance payment equal to two weeks of base salary per year of service, subject to a minimum of 16 weeks. Mr. Alvey is eligible for 16 weeks of base salary continuation (the “Severance Period”) under the policy; |
• | subject to the election of COBRA continuation coverage, the provision of such coverage at active-employee rates for a period equal to the Severance Period; and |
• | customary outplacement services. |
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Name | Cash ($)(1) | Equity ($)(2) | Perquisites/ Benefits ($)(3) | Total ($) | ||||||||
William E. Waltz, Jr. | 6,142,244 | 12,265,863 | 47,593 | 18,455,700 | ||||||||
John M. Deitzer | 1,718,869 | 2,529,867 | 47,936 | 4,296,672 | ||||||||
Daniel S. Kelly | 1,632,676 | 1,852,452 | 32,895 | 3,518,023 | ||||||||
Mark F. Lamps | 1,579,908 | 2,407,793 | 31,289 | 4,018,990 | ||||||||
John W. Pregenzer | 1,914,077 | 3,849,537 | 28,692 | 5,792,306 | ||||||||
(1) | Cash. The amounts reported in this column reflect the aggregate value of the cash severance payments to which each named executive officer is entitled upon a Qualifying Termination under the Executive Severance Policy (as discussed above in the section titled “Interests of Atkore’s Directors and Executive Officers in the Merger—Atkore Executive Employment Arrangements”). The cash severance is “double-trigger” (i.e., triggered by a change in control for which payment is conditioned upon the executive officer’s termination without cause or resignation for good reason within a limited time period following the change in control). Such severance payments are contingent |
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Name | Base Salary Severance Amount ($)(a) | Bonus Severance Amount ($)(b) | Pro-rated Bonus ($)(c) | Total ($) | ||||||||
William E. Waltz, Jr. | 2,750,000 | 2,145,326 | 1,246,918 | 6,142,244 | ||||||||
John M. Deitzer | 915,000 | 361,327 | 442,542 | 1,718,869 | ||||||||
Daniel S. Kelly | 862,500 | 379,098 | 391,078 | 1,632,676 | ||||||||
Mark F. Lamps | 847,500 | 348,131 | 384,277 | 1,579,908 | ||||||||
John W. Pregenzer | 960,000 | 460,751 | 493,326 | 1,914,077 | ||||||||
(a) | The amounts reported in this column reflect the component of each named executive officer’s severance entitlement determined by reference to base salary, which is calculated as the executive officer’s then-current base salary times a “severance multiple” as described above in “—Interests of Atkore’s Directors and Executive Officers in the Merger—Atkore Executive Employment Arrangements.” The severance multiple for Mr. Waltz is 2.5 and the severance multiple for each other named executive officer is 1.5, in each case, assuming a Qualifying Termination immediately following the Assumed Closing Date. |
(b) | The amounts reported in this column reflect the component of each named executive officer’s severance entitlement determined by reference to annual bonus, which is calculated as the average of the executive officer’s three most recent annual bonuses times the severance multiple described above (as discussed above in “—Interests of Atkore’s Directors and Executive Officers in the Merger—Atkore Executive Employment Arrangements”). |
(c) | The amounts reported in this column reflect each named executive officer’s entitlement to a pro-rated annual bonus payment for the fiscal year in which the termination occurs based on the actual days in service for such fiscal year, and generally payable on the date of payment of annual bonuses, as summarized above in the section titled “—Interests of Atkore’s Directors and Executive Officers in the Merger—Atkore Executive Employment Arrangements.” For purposes of determining the pro-rated bonus, we have assumed that actual performance is equal to the target level as of the Assumed Closing Date. |
(2) | Equity. The amounts reported in this column reflect the aggregate cash value of the unvested Company RSUs and unvested Company PSUs held by each named executive officer as of the Assumed Closing Date, in each case, based on the Merger Consideration. As described above in the section titled “—Interests of Atkore’s Directors and Executive Officers in the Merger—Equity-Based Awards Held by Non-Employee Directors and Executive Officers,” under the Merger Agreement, outstanding unvested equity awards held by the named executive officers will become vested upon the consummation of the Merger if the named executive officer remains employed through such date and become payable immediately thereafter. These payments constitute “single-trigger” benefits. The table below quantifies the value (without regard to applicable tax withholding) of unvested Company RSUs and unvested Company PSUs included in the values reported above, assuming for purposes of the Company PSUs, that each such award becomes vested in accordance with its terms at the Assumed Closing Date as described above in “—Interests of Atkore’s Directors and Executive Officers in the Merger—Equity-Based Awards Held by Non-Employee Directors and Executive Officers.” All Company Options are vested and are therefore not included in this table. |
Name | Company RSUs ($) | Company PSUs ($) | Total ($) | ||||||
William E. Waltz, Jr. | 6,507,915 | 5,757,948 | 12,265,863 | ||||||
John M. Deitzer | 1,274,710 | 1,255,157 | 2,529,867 | ||||||
Daniel S. Kelly | 980,077 | 872,375 | 1,852,452 | ||||||
Mark F. Lamps | 1,273,664 | 1,134,129 | 2,407,793 | ||||||
John W. Pregenzer | 2,211,726 | 1,637,811 | 3,849,537 | ||||||
(3) | Perquisites/Benefits. The amounts reported in this column represent (i) the estimated aggregate value of continued health coverage at active employee rates under the Executive Severance Policy as described above in “—Interests of Atkore’s Directors and Executive Officers in the Merger—Atkore Executive Employment Arrangements” and (ii) the estimated cost of outplacement services that would be provided upon each executive’s officer’s assumed qualifying termination in the amount of $14,000 for Mr. Waltz and $10,500 for each other named executive officer. Such benefits are “double-trigger.” |
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• | an individual who is a citizen or a resident of the United States; |
• | a corporation, or other entity or arrangement taxable as a corporation for U.S. federal income tax purposes, created or organized in or under the laws of the United States, any state thereof or the District of Columbia; |
• | an estate, the income of which is subject to U.S. federal income taxation regardless of its source; or |
• | a trust, if (i) a court within the United States is able to exercise primary jurisdiction over its administration and one or more United States persons (within the meaning of Section 7701(a)(30) of the Code), have the authority to control all of the substantial decisions of the trust, or (ii) it has a valid election in place under applicable U.S. Treasury Regulations to be treated as a U.S. person for U.S. federal income tax purposes. |
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• | (A) amend its organizational documents, (B) split, combine, subdivide or reclassify its outstanding shares of capital stock or other equity interests (except for any such transaction by a wholly owned subsidiary of Atkore which remains a wholly owned subsidiary of Atkore after consummation of such transaction), (C) declare, set aside, authorize or pay any dividend or distribution payable in cash, stock or property (or any combination thereof) in respect of any shares of its capital stock or other equity interests (except for (x) any dividends or distributions paid by a direct or indirect wholly owned subsidiary of Atkore to another direct or indirect wholly owned subsidiary of Atkore or to Atkore and (y) regular quarterly dividends in an amount no greater than $0.33 per share per quarter, paid at such times and in a manner consistent with Atkore’s historical quarterly dividend practice), or (D) purchase, repurchase, redeem or otherwise acquire any shares of its capital stock or other equity interests or any securities convertible or exchangeable into or exercisable for any shares of its capital stock (other than (1) purchases, repurchases, redemptions or other |
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• | except as required by any existing employee benefit plan, (A) enter into, adopt, amend or modify in any material respect (including accelerating the vesting), or terminate any employee benefit plan of Atkore or any of its subsidiaries (a “Company Plan”) or any plan, program, policy, practice, agreement or other arrangement that would be a Company Plan if it had been in existence on August 2, 2026, except (x) in conjunction with annual renewal or plan design changes for broad-based health and welfare plans made in the ordinary course of business consistent with past practices or (y) for offer letters or employment agreements for any employee, officer or director whose hire is permitted by the Merger Agreement that do not provide for any severance or change in control payments or benefits; (B) grant or increase the compensation, severance, termination pay or other benefits payable to any current or former employee whose annual base compensation is in excess of $180,000 per year or of any director; (C) enter into or expand the coverage of any change of control, severance, deferred compensation or retention agreement or plan; (D) take any action to waive or amend any performance or vesting criteria or accelerate vesting, exercisability or funding under any Company Plan; (E) make any contributions or payments to any trust or other funding vehicle with respect to any Company Plan; (F) change any actuarial or other assumptions used to calculate funding obligations with respect to any Company Plan or change the manner in which such contributions are determined, except as required by GAAP; (G) terminate the employment (other than for cause) or hire or promote any employee, officer or director whose annual base compensation is in excess of $180,000 per year; (H) effectuate a “plant closing,” “mass layoff,” or similar action under the WARN Act (as defined in the Merger Agreement); or (I) issue, grant, or authorize the issuance or grant of, or accelerate or amend, any equity awards or other equity-based or incentive compensation to any current or former employee, officer, director, or individual independent contractor of Atkore; |
• | make or authorize any payment of, accrual of or commitment for any capital expenditures that would exceed the Capex Budget (as defined in the Merger Agreement) for the applicable fiscal year, other than (A) in connection with the repair or replacement of facilities, properties or assets destroyed or damaged due to casualty or accident (if covered by insurance or the portion of which is not covered by insurance is less than $1,000,000) or (B) for capital expenditures not exceeding $1,000,000 individually or $5,000,000 in the aggregate during the term of the Merger Agreement; |
• | sell, assign, license, lease, exchange or otherwise transfer, abandon, allow to lapse or expire or otherwise dispose of, fail to maintain, pledge or create any lien on, or authorize any of the foregoing with respect to any of Atkore’s or its subsidiaries’ assets, properties or rights, including intellectual property, other than (A) permitted liens, (B) sales of inventory in the ordinary course of business consistent with past practices, (C) sales or assignments with respect to assets, properties and rights (other than certain intellectual property) not exceeding $1,000,000 individually or $5,000,000 in the aggregate, (D) abandonment, allowance to lapse, or failure to maintain intellectual property that is not material to Atkore or its subsidiaries in the ordinary course of business consistent with past practices of intellectual property portfolio management and maintenance or (E) non-exclusive licenses granted (1) in the ordinary course of business consistent with past practices to third parties for their use of the products or services of Atkore or its subsidiaries or (2) appurtenant to dispositions of assets, properties and rights permitted pursuant to clause (C) of this bullet; |
• | grant, issue, sell, deliver, pledge, dispose of or encumber or agree or commit to grant, issue, sell, deliver, pledge, dispose of or encumber, any shares of capital stock or other securities or ownership interests in Atkore or its subsidiaries, or any securities convertible into, or exercisable for or exchangeable for any such shares, securities or interests, except for the issuance of shares with respect to, and upon the vesting, exercise or settlement of Company Options, Company RSUs, Company PSUs or Company DSUs pursuant to their terms, in each case, outstanding on August 2, 2026, subject to certain agreed-upon exceptions; |
• | make any acquisition (whether by merger, consolidation or acquisition of stock or assets or similar transaction) of any equity interest or otherwise invest in any person or any division or assets thereof, other than purchases of raw materials, inventory or supplies or other similar assets required to operate Atkore’s business in the ordinary course of business consistent with past practices; |
• | (A) incur, assume or guarantee any indebtedness, except for indebtedness incurred pursuant to Atkore’s existing revolving credit agreement, provided that the aggregate principal amount outstanding at any time does not |
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• | change the fiscal year or make any material change with respect to the financial accounting policies or procedures of Atkore or its subsidiaries, except as required by changes in GAAP or Regulation S-X of the Exchange Act (or any interpretation thereof), any governmental entity or by applicable law; |
• | (A) make (except in the ordinary course of business consistent with past practices), change or rescind any material tax election, (B) adopt (except in the ordinary course of business consistent with past practices) or change any material method of tax accounting or tax accounting period, (C) amend any material tax return, (D) settle, compromise or resolve any tax proceeding or other claim for a material amount of taxes, (E) enter into any “closing agreement” or other agreement with a taxing authority with respect to material taxes or tax matters, (F) surrender any right to claim a material tax refund or (G) request any private letter ruling or other written advice or determination from a governmental entity with respect to material taxes or tax matters; |
• | enter into any new line of business other than any line of business that is reasonably ancillary to and a reasonably foreseeable extension of any line of business of Atkore and its subsidiaries as of August 2, 2026 or as was expressly contemplated by the Capex Budget and is reflected in Atkore’s long range plan as provided to Prysmian prior to August 2, 2026 or as set forth in the Company Disclosure Letter (as defined in the Merger Agreement); |
• | make any loans, advances or capital contributions to, or investments in, any person (other than (A) loans, advances or capital contributions solely among Atkore and its subsidiaries, (B) indemnification of attorneys’ fees and expenses or business expenses paid or advanced to or on behalf of directors, officers, employees or independent contractors and trade credit and customer or vendor advances, in each case, in the ordinary course of business consistent with past practices, or (C) investments made in the ordinary course of business consistent with past practices pursuant to Atkore and its subsidiaries’ existing cash management practices); |
• | amend or modify in any material respect, or enter into or terminate, or waive, release, or assign any material rights or claims under any material contracts or any contract that would be a material contract if in existence as of August 2, 2026 or after giving effect to such amendment or modification, other than (A) the entry into any contract in the ordinary course of business consistent with past practices, (B) amendments, modifications or waivers in the ordinary course of business consistent with past practice or (C) as expressly permitted by other interim operating covenants in the Merger Agreement; provided that the ordinary course exceptions will not apply to contracts involving non-competes, exclusivity or most-favored-nation provisions, rights of first refusal, restrictions on doing business, joint ventures, indebtedness, M&A agreements, settlement agreements, government contracts or related party contracts; |
• | settle, pay, discharge or satisfy any pending or threatened proceeding, other than (A) if the amount of any such settlement, payment, discharge or satisfaction is not in excess of $1,000,000 individually or $3,000,000 in the aggregate (net of insurance proceeds), (B) relating to taxes or (C) any proceeding arising under applicable workers’ compensation laws, in the ordinary course of business consistent with past practices; provided that, in each case of clauses (A) and (C), such settlements, payments, discharges or satisfactions do not involve any non-de-minimis injunctive, equitable or other non-monetary relief or impose non-de-minimis restrictions on the business activities of Atkore and its subsidiaries, do not involve any admission of wrongdoing by Atkore and its subsidiaries and do not relate to any actual or potential violation of any criminal law; |
• | adopt or enter into a plan of complete or partial liquidation, dissolution, merger (other than the Merger), consolidation, restructuring, recapitalization or other reorganization of Atkore or its subsidiaries (other than mergers, restructuring or reorganizations solely among Atkore and its subsidiaries); |
• | enter into or renew any collective bargaining agreement; or |
• | agree, authorize or commit to do any of the foregoing. |
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• | take any action to solicit, initiate, induce, propose or knowingly encourage or knowingly facilitate the making of any Acquisition Proposal (as defined below) (including by granting any waiver under Section 203 of the DGCL) or any proposal, offer, inquiry or request that constitutes, or would reasonably be expected to result in or lead to, any Acquisition Proposal; |
• | engage, participate or continue in discussions or negotiations with any person with respect to an Acquisition Proposal (except solely to notify them of the existence of the applicable non-solicitation provisions of the Merger Agreement); |
• | disclose any nonpublic information or afford access to properties, books or records to any person relating to any Acquisition Proposal or any proposal, offer, inquiry or request that constitutes, or would reasonably be expected to result in or lead to, any Acquisition Proposal; |
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• | approve or recommend, or propose to approve or recommend, or execute or enter into any letter of intent, agreement in principle, merger agreement, option agreement, acquisition agreement or other similar agreement relating to an Acquisition Proposal; or |
• | propose publicly or agree to do any of the foregoing relating to an Acquisition Proposal. |
• | any indication of interest, proposal or offer from any person or group of persons (other than Prysmian and its affiliates), with respect to any merger, joint venture, partnership, consolidation, dissolution, liquidation, tender offer, recapitalization, reorganization, spin-off, extraordinary dividend, share exchange, business combination, sale, license, exchange, lease, disposition or similar transaction involving Atkore or any of its subsidiaries which is structured to result in such person or group of persons (or their stockholders), directly or indirectly, in one or a series of related transactions, acquiring beneficial ownership of (x) 20% or more of Atkore’s consolidated total assets (including equity securities of Atkore’s subsidiaries), or (y) Atkore’s consolidated total assets to which 20% or more of the revenues or earnings of Atkore and its subsidiaries are attributable for the most recent fiscal year for which the audited financial statements are then available; or |
• | any acquisition by any person or group of persons (or their stockholders) (other than Prysmian and its subsidiaries) resulting in, or which if consummated would result in, any person or group of persons (or their stockholders) (other than Prysmian and its subsidiaries) obtaining control (through contract or otherwise) over or becoming the beneficial owner of, directly or indirectly, in one or a series of related transactions, 20% or more of the total voting power of the equity securities of Atkore (or any direct or indirect parent company thereof or any successor company thereto), in each case other than the transactions contemplated by the Merger Agreement. |
• | furnish information and access to properties, books and records to any person, and its representatives (including sources of financing), that has made a bona fide, written Acquisition Proposal to the Board after the date of the Merger Agreement which was not obtained as a result of a material breach of the non-solicitation provisions and such person has executed an acceptable confidentiality agreement; and participate in discussions and negotiate with such person or its representatives concerning any such unsolicited Acquisition Proposal; |
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• | promptly (and in no event later than 24 hours after a director or senior executive officer of Atkore becomes aware of such an Acquisition Proposal, proposal, offer, inquiry or request) notify (which notice will be provided in writing and will identify the person making such Acquisition Proposal, proposal, offer, inquiry or request and set forth the material terms thereof) Prysmian thereof; |
• | keep Prysmian reasonably and promptly (and, in any event within 24 hours) informed of any material developments regarding the status or terms of any such Acquisition Proposal or request; and |
• | as promptly as practicable after the receipt or delivery thereof (but in no event later than 24 hours after a director or senior executive officer of Atkore becomes aware of receipt) provide Prysmian copies of all material written correspondence and other material written materials and reasonably comprehensive summaries of material oral communication, in each case, sent by or provided to or by Atkore or any of its subsidiaries or their respective representatives, including any proposed transaction agreements relating to such Acquisition Proposal, proposal, offer, inquiry or request. |
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• | stockholder approval of the Merger Proposal has not been obtained; |
• | the Board determines in good faith, after consulting with outside legal counsel and financial advisors, that such Acquisition Proposal constitutes a Company Superior Proposal and that failing to take such action would be reasonably likely to be inconsistent with the directors’ exercise of their fiduciary duties to Atkore’s stockholders under applicable law; |
• | before taking any such action, Atkore promptly gives Prysmian written notice advising Prysmian of the intention of the Board to take such action, specifying the material terms and conditions of the applicable Acquisition Proposal, the identity of the person making such Acquisition Proposal and the other information required by the notice provisions of the Merger Agreement (and Atkore will also promptly give Prysmian such a notice with respect to any subsequent material change in such proposal), and Atkore has given Prysmian at least four business days (as modified, extended or continued, the “Superior Proposal Match Period”) after delivery of such notice to propose revisions to the terms of the Merger Agreement (or to make another proposal) in response to such Acquisition Proposal and during such period Atkore negotiates in good faith, and has made its representatives available to negotiate in good faith, with Prysmian (to the extent Prysmian wishes to negotiate) with respect to such proposed revisions or other proposal, if any (provided that any amendment or modification (other than immaterial amendments or modifications) of such Acquisition Proposal will require a new notice period with a new Superior Proposal Match Period of two business days); and |
• | the Board determines in good faith, after consultation with its outside legal counsel and financial advisors, that such Acquisition Proposal continues to constitute a Company Superior Proposal at the end of the Superior Proposal Match Period, and that failing to take such action would be reasonably likely to be inconsistent with the directors’ exercise of their fiduciary duties to Atkore’s stockholders under applicable law, taking into account any revisions to the terms of the Merger Agreement offered in writing by Prysmian. |
• | stockholder approval of the Merger Proposal has not been obtained; |
• | the Board determines in good faith, after consulting with outside legal counsel and financial advisors, that failing to take such action would be reasonably likely to be inconsistent with the directors’ exercise of their fiduciary duties to Atkore’s stockholders under applicable law; |
• | before taking any such action, Atkore gives Prysmian written notice advising Prysmian of the intention of the Board to take such action, which notice will describe the Intervening Event in reasonable detail and the reasons for such action; |
• | for a period of at least four business days (the “Intervening Event Match Period”) after delivery of such notice, Prysmian is given the opportunity to propose revisions to the terms of the Merger Agreement (or to make another proposal) and during such period Atkore negotiates in good faith, and has made its representatives available to negotiate in good faith, with Prysmian (to the extent Prysmian wishes to negotiate) with respect to such proposed revisions or other proposal, if any (provided that any material change in the facts or circumstances underlying such Intervening Event will require a new notice period with a new Intervening Event Match Period of two business days); and |
• | the Board determines in good faith after consultation with its outside legal counsel and financial advisors that the failure to take such action would continue to be reasonably likely to be inconsistent with the directors’ exercise of their fiduciary duties to Atkore’s stockholders under applicable law, taking into account any revisions to the terms of the Merger Agreement proposed by Prysmian during such Intervening Event Match Period. |
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• | preparing and filing with any governmental entity or other third party all documentation to effect all necessary actions or nonactions, proper or advisable filings, notices, petitions, registrations, statements, submissions of information, applications and other documents; |
• | obtaining and maintaining all actions or nonactions, approvals, consents, registrations, permits, authorizations and other confirmations required to be obtained from any governmental entity or other third party, in each case, that are necessary, proper or advisable to consummate and make effective the Merger and the other transactions contemplated by the Merger Agreement (whether or not such approvals, consents, registrations, permits, authorizations and other confirmations are conditions to the consummation of the Merger pursuant to the Merger Agreement); and |
• | executing and delivering any additional instruments necessary to consummate the transactions contemplated by the Merger Agreement. |
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• | the prompt use of its best efforts to avoid the entry of, or to effect the dissolution of, any permanent, preliminary or temporary governmental order that would materially delay, restrain, prevent, enjoin or otherwise prohibit consummation of the transactions contemplated by the Merger Agreement, including (i) the proffer and agreement by Prysmian of its willingness to sell, lease, license or otherwise dispose of, or hold separate pending such disposition, and promptly to effect the sale, lease, license, disposal and holding separate of, such assets, rights, product lines, categories of assets or businesses or other operations or interests of Atkore and its subsidiaries (and the entry into agreements with, and submission to orders of, the relevant governmental entity giving effect thereto, including the entry into hold separate arrangements, terminating, assigning or modifying contracts (or portions thereof) or other business relationships of Atkore and its subsidiaries, accepting restrictions on business operations of Atkore and its subsidiaries and entering into commitments and obligations with respect to assets, rights, product lines, categories of assets or businesses or other operations or interests therein of Atkore and its subsidiaries) and (ii) the proffer and agreement by Prysmian of its willingness to take such other actions, and promptly to effect such other actions (and the entry into agreements with, and submission to orders of, the relevant governmental entity giving effect thereto, including the entry into hold separate arrangements, terminating, assigning or modifying contracts (or portions thereof) or other business relationships, accepting restrictions on business operations and entering into commitments and obligations, in each case with respect to assets, rights, product lines, categories of assets or businesses or other operations or interests therein of Atkore and its subsidiaries), in each case if such action should be necessary or advisable to avoid, prevent, eliminate or remove the actual or threatened commencement of any proceeding in any forum or issuance of any governmental order that would materially delay, restrain, prevent, enjoin or otherwise prohibit consummation of the transactions contemplated by the Merger Agreement by any governmental entity (each such action, a “Remedial Action”); and |
• | defending through litigation on the merits (including any appeal therefrom) any claim asserted in any court, agency or other proceeding by any person, including any governmental entity, seeking to materially delay, restrain, prevent, enjoin or otherwise prohibit consummation of the transactions contemplated by the Merger Agreement. |
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• | a base salary or wage rate, as applicable, target cash incentive opportunities (including, as applicable, target annual or short-term bonus and commission opportunities but excluding severance, change in control, retention, transaction bonus or similar one-time or special arrangements, equity or equity-based incentive opportunities or other long-term incentives) that are, in each case, no less favorable than those in effect for such Continuing Employee immediately before the Effective Time; and |
• | broad-based employee health, welfare and retirement benefits (excluding any defined benefit retirement, retiree medical plans or other post-employment health and welfare benefits) that are substantially similar, in the aggregate, to either (x) those provided to similarly situated employees of Prysmian or (y) those provided to such Continuing Employee immediately before the Effective Time. |
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• | from and after the Effective Time and for a period of six (6) years thereafter, it will cause the surviving corporation in the Merger to, indemnify and hold harmless, to the fullest extent permitted under applicable law and the organizational documents of Atkore (or organizational documents of any of its subsidiaries) in effect as of August 2, 2026, each present and former (determined as of the Effective Time) director and officer of Atkore or any of its subsidiaries, and each individual who is or was serving or has agreed at the request of Atkore or any of its subsidiaries to serve as a director, officer or manager of another person, in each case, when acting in such capacity, against any costs or expenses (including reasonable attorneys’ fees), judgments, fines, losses, claims, damages or liabilities incurred in connection with, arising out of or otherwise related to any proceedings, in connection with, arising out of or otherwise related to matters existing or occurring at or prior to the Effective Time, whether asserted or claimed prior to, at or after the Effective Time, including in connection with (i) the transactions contemplated by the Merger Agreement and (ii) actions to enforce this provision of the Merger Agreement or any other indemnification or advancement right of any such person. Prysmian or the surviving corporation in the Merger will also advance expenses as incurred to the fullest extent permitted to do so under applicable law and the organizational documents of Atkore or its applicable subsidiary in effect as of August 2, 2026, provided that any person to whom expenses are advanced provides an undertaking to repay such advances if it is ultimately determined by final adjudication that such person is not entitled to indemnification; |
• | prior to the Effective Time, Atkore and its subsidiaries and, if Atkore is unable to, Prysmian will cause the surviving corporation in the Merger as of the Effective Time to, obtain and fully pay the premium for “tail” insurance policies for the extension of (i) the directors’ and officers’ liability coverage of Atkore and its subsidiaries’ existing directors’ and officers’ insurance policies, and (ii) Atkore and its subsidiaries’ existing fiduciary liability insurance policies, in each case for a claims reporting or discovery period of six (6) years from and after the Effective Time from one or more insurance carriers with the same or better credit rating as Atkore and its subsidiaries’ insurance carrier as of August 2, 2026 with respect to directors’ and officers’ liability insurance and fiduciary liability insurance with terms, conditions, retentions and limits of liability that are at least as favorable in the aggregate to the insureds as Atkore and its subsidiaries’ existing policies with respect to matters existing or occurring at or prior to the Effective Time (including in connection with the Merger Agreement or the transactions contemplated thereby; provided |
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• | if Atkore and the surviving corporation in the Merger for any reason fail to obtain such “tail” insurance policies as of the Effective Time, the surviving corporation in the Merger will, and Prysmian will cause the surviving corporation in the Merger to, continue to maintain in effect for the six-year tail period the directors’ and officers’ insurance in place as of August 2, 2026 with terms, conditions, retentions and limits of liability that are at least as favorable in the aggregate to the insureds as provided in Atkore and its subsidiaries’ existing policies as of August 2, 2026, or the surviving corporation in the Merger will, and Prysmian will cause the surviving corporation in the Merger to, purchase comparable directors’ and officers’ insurance for the six-year tail period with terms, conditions, retentions and limits of liability that are at least as favorable in the aggregate as provided in Atkore and its subsidiaries’ existing policies as of August 2, 2026; provided that, in either case, the surviving corporation in the Merger will not be required to pay, unless approved by Prysmian, an aggregate amount for such directors’ and officers’ insurance in excess of the Maximum Amount; provided, further, that if the surviving corporation in the Merger is unable to obtain any such insurance policy because its aggregate premium exceeds the Maximum Amount, it will obtain as much comparable insurance as possible for the years within such six-year period for an aggregate premium equal to the Maximum Amount. Prysmian will not, and will cause the surviving corporation in the Merger not to, cancel, impair, amend, modify or otherwise adversely affect any such directors’ and officers’ insurance during the six-year tail period; |
• | if any such indemnified person wishes to claim indemnification under the Merger Agreement, upon learning of any proceeding, such person must promptly notify Prysmian in writing, but the failure to so notify will not relieve Prysmian or the surviving corporation in the Merger of any liability it may have to such person except to the extent such failure materially prejudices Prysmian or the surviving corporation in the Merger. In the event of any proceeding, Prysmian or the surviving corporation in the Merger will have the right to assume the defense thereof, except that if Prysmian or the surviving corporation in the Merger elects not to assume such defense or if legal counsel for such indemnified person advises that there are issues which raise conflicts of interest between Prysmian or the surviving corporation in the Merger and such indemnified person, such indemnified person may retain legal counsel satisfactory to them, and Prysmian or the surviving corporation in the Merger will pay all reasonable and documented fees and expenses of such legal counsel for such indemnified person promptly as statements therefor are received; provided that Prysmian and the surviving corporation in the Merger will be obligated to pay for only one firm of legal counsel for all such indemnified persons in any jurisdiction unless conflicts of interest require additional counsel. Such indemnified persons will cooperate in the defense of any matter if Prysmian or the surviving corporation in the Merger elects to assume such defense, and Prysmian and the surviving corporation in the Merger will cooperate in the defense of any such matter if Prysmian or the surviving corporation in the Merger elects not to assume such defense. The surviving corporation in the Merger will not settle, compromise or consent to the entry of judgement in any proceeding involving such indemnified person without such person’s prior written consent (which consent will not be unreasonably withheld, conditioned or delayed) unless such settlement, compromise or consent to judgment (A) includes a complete and unconditional release of such person from all liability, (B) contains no admission or acknowledgment of wrongdoing, liability, fault, misconduct, breach of duty or violation of law by such person and (C) imposes no injunctive relief, cooperation obligations, restrictions, bars, penalties or other non-monetary obligations on such person. Prysmian and the surviving corporation in the Merger will not have any obligation to any such indemnified person if and when a court of competent jurisdiction will ultimately determine, and such determination will have become final, that the indemnified action of such indemnified person in the manner contemplated by the Merger Agreement is prohibited by applicable law. All rights to indemnification in respect of any such proceedings will continue until final disposition of all such proceedings. Neither the surviving corporation in the Merger nor Prysmian will have any liability to any such indemnified person for any settlement effected without the consent of Prysmian (which consent will not be unreasonably withheld, conditioned or delayed); |
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• | from and after the Effective Time and for a period of six years thereafter, all rights to indemnification and exculpation from liabilities for acts or omissions occurring at or prior to the Effective Time and rights to advancement of expenses relating thereto now existing in favor of any such indemnified person as provided in the organizational documents of Atkore and its subsidiaries or any indemnification agreement between such person and Atkore and its subsidiaries, in each case, as in effect on August 2, 2026 and specified in the Company Disclosure Letter, will survive the transactions contemplated by the Merger Agreement unchanged and will not be amended, restated, repealed or otherwise modified in any manner that would adversely affect any right thereunder of any such person. Additionally, Prysmian will cause the surviving corporation in the Merger to maintain the indemnification agreements specified in the Company Disclosure Letter and any other indemnification agreements entered into by Atkore or its subsidiaries after August 2, 2026 with a director, officer or employee (with entry into such future agreements subject to the consent of Prysmian, not to be unreasonably withheld, conditioned or delayed), and to not change the outside counsel arrangements specified in the Merger Agreement without the consent of the applicable indemnified person, in each case, for a period of six years from and after the Effective Time; |
• | if Prysmian or the surviving corporation in the Merger or any of their respective successors or assigns (i) consolidates with or merges into any other person and is not the continuing or surviving person of such consolidation or merger or (ii) transfers all or substantially all of its properties and assets to any person, then proper provisions will be made so that the successors and assigns of Prysmian or the surviving corporation in the Merger will assume all of the indemnification and insurance obligations described above; |
• | the rights of such indemnified persons under the indemnification and insurance provisions of the Merger Agreement are in addition to any rights such persons may have under the organizational documents of Atkore and its subsidiaries, or under any applicable contracts or laws, and nothing in the Merger Agreement is intended to, will be construed to, or will release, waive or impair any rights to directors’ and officers’ insurance claims under any policy that is or has been in existence with respect to Atkore and its subsidiaries for any of their respective directors or officers. The indemnification provided for in the Merger Agreement is not prior to or in substitution of any such claims under such policies; and |
• | the indemnification and insurance provisions of the Merger Agreement are intended to be for the benefit of, and from and after the Effective Time will be enforceable by, each such indemnified person, who will be a third-party beneficiary thereof. |
• | participating in, only to the extent customary for financings of the same type as the Financing, a reasonable number of lender and investor meetings, lender presentations, due diligence sessions and rating agency meetings; |
• | providing reasonable and customary assistance to Prysmian and Merger Sub in their preparation of customary rating agency presentations, customary bank information memoranda, offering memoranda, prospectuses and similar documents reasonably and customarily required in connection with the Financing, solely with respect to information relating to Atkore and its business, and promptly furnishing, to the extent practicable, to Prysmian and Merger Sub such information regarding Atkore, including historical financial information that is readily available from Atkore’s books and records in the ordinary course of business and other customary financial information reasonably requested by Prysmian and Merger Sub and customarily prepared or delivered in connection with financings of a type similar to the Financing; and |
• | delivering “know your customer” and anti-money laundering documentation at least three business days prior to the closing date of the Merger (to the extent reasonably requested in writing at least nine business days prior to the closing date of the Merger). |
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• | cooperation between Atkore and Prysmian in the preparation of this proxy statement; |
• | confidentiality and access by each party to certain information about the other party during the period before the Effective Time; cooperation between the parties to cause (i) the delisting of the Common Stock from the NYSE as promptly as practicable after the Effective Time and (ii) deregistration of Common Stock pursuant to the Exchange Act as promptly as practicable after such delisting; |
• | cooperation between Atkore and Prysmian in connection with public announcements regarding the Merger; |
• | keeping the other party reasonably apprised of the status of matters relating to the consummation of the transactions contemplated by the Merger Agreement and providing prompt notice to the other of any failure of any condition to the other party’s obligation to consummate the transactions contemplated by the Merger Agreement, and Atkore providing Prysmian prompt notice of the occurrence of any Company Material Adverse Effect (as defined below); |
• | Atkore taking such actions as are necessary to eliminate or minimize the effects of takeover laws on the Merger and the transactions contemplated thereby; |
• | causing the Merger and any other dispositions of equity securities of Atkore (including derivative securities) in connection with the Merger by each individual who is a director or officer of Atkore who is subject to the reporting requirements of Section 16(a) of the Exchange Act to be exempt under Rule 16b-3 promulgated under the Exchange Act; |
• | cooperation between Atkore and Prysmian in the defense or settlement of any stockholder litigation relating to the Merger including that Atkore will promptly notify Prysmian of any such litigation, give Prysmian a reasonable opportunity to participate in the defense or settlement thereof (at Prysmian’s sole expense and subject to a customary joint defense agreement) and not settle any such litigation without Prysmian’s prior written consent (which consent will not be unreasonably withheld, conditioned or delayed); |
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• | treatment of Atkore’s outstanding indebtedness, including the termination of credit facilities and the redemption of Atkore’s senior notes at the Effective Time, in each case conditioned on the occurrence of the Effective Time and Prysmian providing or causing to be provided funds sufficient therefor (or, in the case of the credit facilities, directing Atkore or its subsidiaries to use funds on their balance sheets); |
• | delivery by Atkore to Prysmian and Merger Sub at or prior to the Closing of a FIRPTA certificate and IRS notice stating that Atkore is not and has not been during the relevant period a “United States real property holding corporation” within the meaning of Section 897(c)(2) of the Code; |
• | Atkore using its reasonable best efforts to cause each Atkore director to execute and deliver a resignation letter effective as of the Effective Time; and |
• | Prysmian, in its capacity as sole stockholder of Merger Sub, approving by written consent the execution and delivery by Merger Sub of the Merger Agreement and the consummation of the Merger immediately following the execution of the Merger Agreement. |
• | organization, good standing and qualification; |
• | capitalization and ownership of subsidiaries; |
• | corporate authorization of Atkore to enter into the Merger Agreement and other transaction documents and to complete the transactions contemplated thereby; |
• | governmental approvals required in connection with the contemplated transactions; |
• | absence of any breach of organizational documents, law or certain material agreements as a result of the contemplated transactions; |
• | filings with the SEC and financial statements; |
• | disclosure controls and procedures and internal controls over financial reporting; |
• | absence of material changes since September 30, 2025; |
• | litigation and absence of undisclosed material liabilities; |
• | employee benefits and labor matters; |
• | compliance with laws and licenses; |
• | certain material contracts; |
• | environmental matters; |
• | real property; |
• | taxes; |
• | intellectual property; |
• | insurance; |
• | company products; |
• | customers and suppliers; |
• | takeover Statutes and no rights plans; |
• | accuracy of information provided for inclusion in this proxy statement; |
• | brokers’ or advisors’ fees; and |
• | no other representations and warranties. |
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• | organization, good standing and qualification; |
• | corporate authorization to enter into the Merger Agreement and to complete the transactions contemplated by the Merger Agreement; |
• | governmental approvals required in connection with the contemplated transactions; |
• | absence of any breach of organizational documents, law or certain material agreements as a result of the contemplated transactions; |
• | solvency; |
• | litigation and liabilities; |
• | financial ability; |
• | accuracy of information provided for inclusion in this proxy statement; |
• | ownership of Atkore securities; |
• | brokers’ or advisors’ fees; and |
• | no other representations and warranties. |
• | Effects generally affecting the economy, credit, capital, securities or financial markets or political, regulatory, economic or business conditions (including tariffs, trade policies and sanctions) in any jurisdiction in which Atkore or its subsidiaries have operations or in which products or services of Atkore or its subsidiaries are sold; |
• | Effects that are the result of factors generally affecting the industries, markets or geographical areas in which Atkore or its subsidiaries have operations; |
• | changes in the relationship of Atkore or its subsidiaries, contractual or otherwise, with customers, employees, unions, suppliers, distributors, financing sources, partners or similar relationship or any resulting Effect that was caused by the entry into, announcement, pendency or performance of the transactions contemplated by the Merger Agreement, or resulting or arising from the identity of Prysmian as the acquiror of Atkore, Merger Sub or their affiliates; provided that this exception will not apply to certain representations and warranties relating to the governmental filings and no violations or to the conditions relating to such representations and warranties; |
• | changes or modifications in accounting standards applicable to Atkore or its subsidiaries, including GAAP, or in any law of general applicability, including the repeal thereof, or in the interpretation or enforcement thereof, after August 2, 2026; |
• | any failure by Atkore or its subsidiaries to meet any internal or public projections or forecasts or estimates of revenues or earnings for any period (provided that the foregoing will not prevent or otherwise affect a determination that any Effect underlying such failure has resulted in, or contributed to, or would reasonably be expected to result in, or contribute to, a Company Material Adverse Effect); |
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• | Effects resulting from acts of war (whether or not declared), civil disobedience, hostilities, sabotage, terrorism, cyberterrorism, ransomware or malware, military actions or the escalation of any of the foregoing, any hurricane, flood, tornado, earthquake or other weather or natural disaster, or any epidemic, pandemic, outbreak of illness or other public health event (including pandemics and epidemics) or any other force majeure event, or any national or international calamity or crisis; |
• | any actions taken or failed to be taken by Atkore or its subsidiaries that are required to be taken by the Merger Agreement or any actions taken with Prysmian’s express written consent or failed to be taken at Prysmian’s express written request; or |
• | any Effect or announcement of an Effect affecting the credit rating or other rating of financial strength of Atkore, its subsidiaries or any of their respective securities (provided that the foregoing will not prevent or otherwise affect a determination that any Effect underlying such Effect or announcement of an Effect has resulted in, or contributed to, or would reasonably be expected to result in, or contribute to, a Company Material Adverse Effect); |
• | adoption by Atkore’s stockholders of the Merger Agreement; |
• | the expiration or termination of the applicable waiting period (or any extension thereof) under the HSR Act, and the expiration of any applicable waiting period of, or receipt of clearance or approval of, certain other governmental entities, including in Austria, Australia and Canada; and |
• | the absence of any law or governmental order in effect that prevents, prohibits or makes illegal the consummation of the transactions contemplated by the Merger Agreement. |
• | the representations and warranties of Prysmian and Merger Sub relating to (i) Prysmian’s and Merger Sub’s legal organization and good standing, (ii) the corporate power and authority of Prysmian and Merger Sub to enter into the Merger Agreement and consummate the transactions contemplated thereby and (iii) brokers and finders, in each case, being true and correct in all material respects, at and as of the date of the Merger Agreement and Closing, as if made at and as of such time (except to the extent expressly made as of an earlier date, in which case as of such date); |
• | the other representations and warranties of Prysmian and Merger Sub being true and correct at and as of the date of the Merger Agreement and the Closing, as if made at and as of such time (except to the extent expressly made as of an earlier date, in which case as of such date), except where the failure of such representations and warranties to be so true and correct would not, individually or in the aggregate, prevent, materially delay or materially impede the consummation of the transactions contemplated by the Merger Agreement; |
• | the performance in all material respects of all obligations and compliance in all material respects with all covenants in the Merger Agreement required to be performed or complied with by Prysmian and Merger Sub prior to the Closing; and |
• | receipt of a certificate, dated as of the closing date of the Merger and duly executed on behalf of Prysmian and Merger Sub by a duly authorized officer of Prysmian and Merger Sub, certifying that (in his or her capacity as such and not in his or her personal capacity and without any personal liability) the conditions above have been satisfied. |
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• | the representations and warranties of Atkore relating to (i) organization, good standing and qualification, (ii) the authorized and outstanding capital stock of Atkore and (iii) the absence of certain changes, in each case, being true and correct, at and as of the date of the Merger Agreement and the Closing, as if made at and as of such time (except to the extent expressly made as of an earlier date, in which case as of such date), in each case, except, with respect to the capital structure representations, for de minimis inaccuracies; |
• | the representations and warranties of Atkore relating to (i) certain capital structure matters, (ii) corporate authority and approval, (iii) governmental filings and no violations (solely with respect to Atkore), (iv) takeover statutes and no rights plan and (v) brokers and finders, in each case, being true and correct in all material respects, at and as of the date of the Merger Agreement and the Closing, as if made at and as of such time (except to the extent expressly made as of an earlier date, in which case as of such date); |
• | the representations and warranties of Atkore that are qualified by a “Company Material Adverse Effect” qualification being true and correct in all respects as so qualified at and as of the date of the Merger Agreement and the Closing, as if made at and as of such time (except to the extent expressly made as of an earlier date, in which case as of such date); |
• | the other representations and warranties of Atkore being true and correct (without giving effect to any qualification as to the materiality contained therein) at and as of the date of the Merger Agreement and the Closing, as if made at and as of such time (except to the extent expressly made as of an earlier date, in which case as of such date), except where the failure of such representations and warranties to be so true and correct would not have, individually or in the aggregate, a Company Material Adverse Effect; |
• | the performance in all material respects of all obligations and compliance in all material respects with all covenants in the Merger Agreement required to be performed or complied with by Atkore prior to the Closing; |
• | the absence, since the date of the Merger Agreement, of any Company Material Adverse Effect; and |
• | receipt of a certificate, dated as of the closing date and duly executed on behalf of Atkore by Atkore’s duly authorized officer, certifying that (in his or her capacity as such and not in his or her personal capacity and without any personal liability) the first six conditions above have been satisfied. |
• | by the mutual written consent of Atkore and Prysmian; |
• | by either Atkore or Prysmian, if: |
○ | the Effective Time has not occurred on or before the first business day that is twelve (12) months after the date of the Merger Agreement (the “End Date”), provided that (x) if, as of such date, all closing conditions have been satisfied or waived (other than those conditions that by their nature are to be satisfied at the Closing and other than the conditions relating to regulatory approvals or governmental orders (but with respect to governmental orders, only to the extent the applicable law or governmental order relates to the HSR Act or any other applicable antitrust law or foreign investment law)), then the End Date will automatically be extended to the first business day that is fifteen (15) months after the date of the Merger Agreement (the “First Extended End Date”); and (y) if, as of the First Extended End Date, all closing conditions have been satisfied or waived (other than those conditions described in clause (x) above), then the End Date will automatically be extended again to the first business day that is eighteen (18) months after the date of the Merger Agreement (the “Second Extended End Date”); provided, further, that the parties are entitled to extend the End Date by mutual written agreement and the party seeking to terminate the Merger Agreement pursuant to this provision shall not have breached in any material respect its obligations under the Merger Agreement in any manner that has been the primary cause of the failure to consummate the Merger on or before the End Date; |
○ | any law or governmental order permanently enjoining, prohibiting or making illegal the consummation of the Merger has been issued and become final, binding and non-appealable; |
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○ | the Special Meeting (including any adjournments or postponements thereof) has been held and concluded and the stockholder approval of the Merger Proposal was not obtained; or |
○ | if there has been a breach or failure to perform in any material respect by the other party of any of its representations, warranties, covenants or agreements contained in the Merger Agreement, which breach or failure to perform (A) would result in a failure of a condition set forth in the Merger Agreement and (B) such breach is incapable of being cured by the End Date or, if curable, is not cured by the earlier of (x) the End Date and (y) 45 business days after written notice thereof to the party alleged to be in breach stating the terminating party’s intention to terminate the Merger Agreement and the basis for such termination; provided, that the foregoing termination right will not be available to any party who is then in material breach of any representation, warranty, agreement or covenant contained in the Merger Agreement; |
• | by Atkore, prior to receipt of the stockholder approval of the Merger Proposal, in order to enter into a definitive agreement providing for a Company Superior Proposal, provided that (a) Atkore has complied with the matching rights provision of the Merger Agreement with respect to such Company Superior Proposal, and (b) Atkore pays the Company Termination Fee to Prysmian prior to or concurrently with such termination; or |
• | by Prysmian, prior to receipt of the stockholder approval of the Merger Proposal, if the Board has effected a Change in the Board Recommendation. |
• | no such termination will relieve Atkore of its obligation to pay the Company Termination Fee, if, as of and when required to pursuant to the Merger Agreement, or any of its other obligations under the termination fee provisions expressly contemplated to survive the termination of the Merger Agreement; |
• | no such termination will relieve any party of liability for such party’s Fraud or Willful Breach (each as defined in the Merger Agreement) of any covenant or obligation contained in the Merger Agreement prior to its termination; and |
• | the confidentiality agreement and the provisions of the Merger Agreement relating to effect of termination, the Company Termination Fee, financing cooperation, certain no-other-representations provisions and the miscellaneous provisions will survive the termination of the Merger Agreement. |
• | if Atkore terminates the Merger Agreement, prior to receipt of the stockholder approval, in order to enter into a definitive agreement providing for a Company Superior Proposal, then Atkore will pay or cause to be paid the Company Termination Fee to Prysmian prior to or concurrently with such termination of the Merger Agreement; |
• | if Prysmian terminates the Merger Agreement, prior to receipt of the stockholder approval, because the Board has effected a Change in the Board Recommendation, then Atkore will pay or cause to be paid the Company Termination Fee to Prysmian within three business days of such termination of the Merger Agreement; and |
• | if (i) after the date of the Merger Agreement, an Acquisition Proposal (defined for this purpose with all references to 20% in the definition of Acquisition Proposal included above being replaced with “50%”) (a “Company Qualifying Transaction”) is publicly proposed or publicly disclosed prior to, and not publicly withdrawn at least three business days prior to, the Special Meeting (in the case of a termination due to failure to obtain the stockholder approval of the Merger Proposal), the End Date (in the case of a termination due to the Effective Time not having occurred by the End Date) or the applicable breach (in |
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• | that, in accordance with Section 261 of the DGCL, Atkore will have the sole and exclusive right, if the Merger Agreement is terminated, on behalf of its stockholders (each of which are third-party beneficiaries of the Merger Agreement solely to the extent required for this provision to be enforceable) to pursue damages in the event of a breach by Prysmian or Merger Sub of the Merger Agreement, and such stockholders will not themselves be entitled to enforce such rights or Prysmian’s or Merger Sub’s obligations under the Merger Agreement. Following the Effective Time, Atkore’s stockholders and holders of equity awards will have the right to receive the Merger Consideration and the consideration payable in respect of their equity awards in accordance with the Merger Agreement; |
• | from and after the Effective Time, the directors and officers of Atkore pursuant to the provisions of the Merger Agreement relating to indemnification and exculpation from liability; and |
• | the provisions of the Merger Agreement related to certain matters concerning the financing related parties and the ability to bring suit against such financing related parties in connection with the transactions contemplated by the Merger Agreement, of which the financing related parties are express third-party beneficiaries. |
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Name of Beneficial Owner | Number of Shares Beneficially Owned | Percentage of Common Stock Outstanding (%) | ||||
BlackRock, Inc.(1) | 2,462,609 | 7.3% | ||||
Vanguard Portfolio Management LLC(2) | 2,117,497 | 6.3% | ||||
American Century Investment Management, Inc.(3) | 1,775,158 | 5.3% | ||||
Vanguard Capital Management LLC(4) | 1,773,377 | 5.3% | ||||
Gates Capital Management, Inc.(5) | 1,710,192 | 5.1% | ||||
William E. Waltz Jr.(6)(7) | 316,594 | * | ||||
John M. Deitzer(6) | 5,463 | * | ||||
Mark F. Lamps(6) | 51,033 | * | ||||
Daniel S. Kelly(6) | 81,324 | * | ||||
John W. Pregenzer(6) | 62,463 | * | ||||
Michael V. Schrock(8) | 19,884 | * | ||||
Franklin S. Edmonds, Jr. | — | * | ||||
B. Joanne Edwards(8) | 3,786 | * | ||||
Jeri L. Isbell(8) | 28,262 | * | ||||
Justin A. Kershaw(8) | 16,388 | * | ||||
Wilbert W. James Jr.(8) | 14,835 | * | ||||
Betty R. Wynn(8) | 18,499 | * | ||||
Scott H. Muse(8) | 30,333 | * | ||||
A. Mark Zeffiro(8) | 21,650 | * | ||||
All current directors and executive officers as a group (16 persons)(6)(7)(8) | 709,683 | 2.1% | ||||
* | Less than one percent. |
(1) | According to the Schedule 13G/A filed by BlackRock, Inc. (“BlackRock”) on October 17, 2025, BlackRock beneficially owned 2,462,609 shares of Common Stock. BlackRock reported sole voting power with respect to 2,380,763 shares, shared voting power with respect to 0 shares, sole dispositive power with respect to 2,462,609 shares and shared dispositive power with respect to 0 shares. The address for BlackRock is 50 Hudson Yards, New York, New York 10001. |
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(2) | According to the Schedule 13G filed by Vanguard Portfolio Management LLC (“VPM”) on April 28, 2026, VPM beneficially owned 2,117,497 shares of Common Stock. VPM reported sole voting power with respect to 27,028 shares, shared voting power with respect to 0 shares, sole dispositive power with respect to 2,117,497 shares and shared dispositive power with respect to 0 shares. The address for VPM is 100 Vanguard Boulevard, Malvern, Pennsylvania 19355. |
(3) | According to the Schedule 13G filed by American Century Investment Management, Inc. (“ACIM”), American Century ETF Trust (“ACET”), American Century Companies, Inc. (“ACC”) and Stowers Institute for Medical Research (“SIMR” and, together with ACIM, ACET and ACC, “American Century”) on August 14, 2026, American Century beneficially owned 1,775,158 shares of Common Stock. ACIM, ACC and SIMR reported sole voting power with respect to 1,775,158 shares, shared voting power with respect to 0 shares, sole dispositive power with respect to 1,775,158 shares and shared dispositive power with respect to 0 shares. ACET reported sole voting power with respect to 1,696,217 shares, shared voting power with respect to 0 shares, sole dispositive power with respect to 1,696,217 shares and shared dispositive power with respect to 0 shares. The address for American Century is 4500 Main Street, 9th Floor, Kansas City, Missouri 64111. |
(4) | According to the Schedule 13G filed by Vanguard Capital Management LLC (“VCM”) on April 29, 2026, VCM beneficially owned 1,773,377 shares of Common Stock. VCM reported sole voting power with respect to 258,267 shares, shared voting power with respect to 0 shares, sole dispositive power with respect to 1,773,377 shares and shared dispositive power with respect to 0 shares. The address for VCM is 100 Vanguard Boulevard, Malvern, Pennsylvania 19355. |
(5) | According to the Schedule 13G/A filed by Gates Capital Management, Inc. (“Gates”) on August 14, 2026, Gates beneficially owned 1,710,192 shares of Common Stock. Gates reported sole voting power with respect to 0 shares, shared voting power with respect to 1,710,192 shares, sole dispositive power with respect to 0 shares and shared dispositive power with respect to 1,710,192 shares. The address for Gates is 1177 Avenue of the Americas, 46th Floor, New York, New York 10036. |
(6) | Includes shares which the current named executive officers have the right to acquire within 60 days of August 21, 2026, through the exercise of stock options or vesting of RSUs and PSUs: Mr. Waltz, 261,687; Mr. Deitzer, 0; Mr. Lamps, 28,637; Mr. Kelly, 59,010; and Mr. Pregenzer, 24,415. All current executive officers as a group have the right to acquire 384,270 shares within 60 days of August 21, 2026, through the exercise of stock options or vesting of RSUs and PSUs. |
(7) | Beneficially owned shares do not include 36,836 shares of Common Stock held in a separate family trust, as to which shares Mr. Waltz disclaims beneficial ownership. |
(8) | Includes RSUs held by the non-employee directors that are vested but deferred and payable at a future date upon the occurrence of the applicable triggering event in the following amounts: Mr. Schrock, 0 RSUs; Ms. Edwards, 2,846 RSUs; Ms. Isbell, 25,463 RSUs; Mr. Kershaw, 16,388 RSUs; Mr. James, 14,834 RSUs; Ms. Wynn, 5,612 RSU; Mr. Muse, 24,635 RSUs; and Mr. Zeffiro, 11,418 RSUs. |
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Proposals for inclusion in 2027 proxy statement | Other proposals/nominees to be presented at 2027 Annual Meeting of Stockholders(1) | ||||||||
Type of proposal | SEC rules permit stockholders to submit proposals for inclusion in our 2027 proxy statement by satisfying the requirements set forth in Rule 14a-8 of the Exchange Act | Stockholders may present proposals or director nominations directly at the 2027 Annual Meeting of Stockholders (and not for inclusion in our proxy materials) by satisfying the requirements set forth in Section 1.12 of the bylaws(2) | |||||||
When proposal must be received by Atkore | Proposals were required to be received no later than August 14, 2026 (3) | No earlier than October 1, 2026 and no later than October 30, 2026(4) | |||||||
Where to send | By Mail: | Atkore Inc. Attn: Corporate Secretary (Legal Department) 16100 South Lathrop Avenue Harvey, IL 60426 | |||||||
What to include | The information required by Rule 14a-8 | The information required by the bylaws(2) | |||||||
(1) | Any proposal or nomination without the required notice will not be considered properly submitted under the bylaws. Any proposal or nomination that is received by Atkore after October 30, 2026 will not be considered filed on a timely basis under Rule 14a-4(c)(1). Proposals or nominations that are not properly submitted or timely filed will not be presented at the 2027 Annual Meeting of Stockholders. For proposals that are properly submitted and timely filed, SEC rules permit management to retain discretion to vote proxies Atkore receives, provided that: (a) Atkore includes in its proxy statement advice on the nature of the proposal and how it intends to exercise its voting discretion; and (b) the proponent does not issue a proxy statement. |
(2) | The bylaws are filed as Exhibit 3.2 to Atkore’s Annual Report on Form 10-K for the fiscal year ended September 30, 2023 and are available in the corporate governance section of Atkore’s Investor Relations website at investors.atkore.com. |
(3) | Assumes Atkore’s 2027 Annual Meeting of Stockholders is held between December 30, 2026 and February 28, 2027. In the event the 2027 Annual Meeting of Stockholders is not held between December 30, 2026 and February 28, 2027, Atkore will announce a new date by which a proposal submitted pursuant to Rule 14a-8 must be received by Atkore. In accordance with Rule 14a-8, such date shall be a reasonable time before Atkore begins to print and mail its proxy materials for the 2027 Annual Meeting of Stockholders. |
(4) | Assumes Atkore’s 2027 Annual Meeting of Stockholders is held between December 30, 2026 and April 9, 2027. Please see the bylaws for additional information regarding the advance notice deadline in the event the 2027 Annual Meeting of Stockholders is not held between December 30, 2026 and April 9, 2027. |
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• | Annual Report on Form 10-K, filed on November 26, 2025, for the fiscal year ended September 30, 2025; |
• | Definitive Proxy Statement on Schedule 14A, filed on December 12, 2025 (solely to the extent the information therein is incorporated by reference into Part III of the Annual Report on Form 10-K for the fiscal year ended September 30, 2025); |
• | Quarterly Reports on Form 10-Q, filed on February 3, 2026 for the fiscal quarter ended December 26, 2025, May 6, 2026 for the fiscal quarter ended March 27, 2026, and August 4, 2026, for the fiscal quarter ended June 26, 2026; and |
• | Current Reports on Form 8-K, filed on October 3, 2025, November 21, 2025 (solely with respect to Items 1.01 and 9.01), December 2, 2025, February 2, 2026, April 29, 2026, June 4, 2026 and August 3, 2026 (solely with respect to Items 1.01 and 9.01). |
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ARTICLE I THE MERGER | ||||||
Section 1.1 | The Merger | A-1 | ||||
Section 1.2 | Closing | A-1 | ||||
Section 1.3 | Effective Time | A-2 | ||||
Section 1.4 | The Certificate of Incorporation and Bylaws of the Surviving Corporation | A-2 | ||||
Section 1.5 | Directors and Officers of the Surviving Corporation | A-2 | ||||
Section 1.6 | Further Assurances | A-2 | ||||
ARTICLE II EFFECT OF THE MERGER ON CAPITAL STOCK | ||||||
Section 2.1 | Effect of the Merger on Capital Stock of the Company Merger Sub | A-2 | ||||
Section 2.2 | Certain Adjustments | A-3 | ||||
Section 2.3 | Appraisal Shares | A-3 | ||||
ARTICLE III DELIVERY OF MERGER CONSIDERATION; PROCEDURES FOR SURRENDER | ||||||
Section 3.1 | Paying Agent | A-3 | ||||
Section 3.2 | Exchange Procedures | A-3 | ||||
Section 3.3 | Full Satisfaction | A-4 | ||||
Section 3.4 | Undistributed Payment Funds | A-4 | ||||
Section 3.5 | Abandoned Property, Escheat or Similar Laws | A-4 | ||||
Section 3.6 | Lost Certificates | A-4 | ||||
Section 3.7 | Investment of Payment Funds | A-5 | ||||
Section 3.8 | Treatment of Equity Awards | A-5 | ||||
Section 3.9 | Withholding | A-6 | ||||
ARTICLE IV REPRESENTATIONS AND WARRANTIES OF THE COMPANY | ||||||
Section 4.1 | Organization, Good Standing and Qualification | A-6 | ||||
Section 4.2 | Capital Structure | A-6 | ||||
Section 4.3 | Corporate Authority and Approval | A-7 | ||||
Section 4.4 | Governmental Filings; No Violations | A-8 | ||||
Section 4.5 | Company Reports; Financial Statements | A-8 | ||||
Section 4.6 | Absence of Certain Changes | A-9 | ||||
Section 4.7 | Litigation and Liabilities | A-9 | ||||
Section 4.8 | Employee Benefits and Labor Matters | A-10 | ||||
Section 4.9 | Compliance with Laws, Licenses | A-12 | ||||
Section 4.10 | Material Contracts | A-13 | ||||
Section 4.11 | Environmental Matters | A-14 | ||||
Section 4.12 | Real Property | A-15 | ||||
Section 4.13 | Taxes | A-15 | ||||
Section 4.14 | Intellectual Property | A-16 | ||||
Section 4.15 | Insurance | A-18 | ||||
Section 4.16 | Company Products | A-18 | ||||
Section 4.17 | Customers and Suppliers | A-18 | ||||
Section 4.18 | Takeover Statutes; No Rights Plan | A-18 | ||||
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Section 4.19 | Information Supplied | A-18 | ||||
Section 4.20 | Brokers and Finders | A-18 | ||||
Section 4.21 | No Other Representations and Warranties | A-18 | ||||
ARTICLE V REPRESENTATIONS AND WARRANTIES OF BUYER AND MERGER SUB | ||||||
Section 5.1 | Organization, Good Standing and Qualification | A-19 | ||||
Section 5.2 | Corporate Authority and Approval | A-19 | ||||
Section 5.3 | Governmental Filings; No Violations | A-19 | ||||
Section 5.4 | Solvency | A-20 | ||||
Section 5.5 | Litigation and Liabilities. | A-20 | ||||
Section 5.6 | Financial Ability | A-20 | ||||
Section 5.7 | Information Supplied | A-20 | ||||
Section 5.8 | Share Ownership | A-21 | ||||
Section 5.9 | Brokers and Finders | A-21 | ||||
Section 5.10 | No Other Representations and Warranties | A-21 | ||||
ARTICLE VI COVENANTS | ||||||
Section 6.1 | Interim Operations | A-21 | ||||
Section 6.2 | No Solicitation | A-24 | ||||
Section 6.3 | Company Stockholder Meeting; Proxy Material | A-26 | ||||
Section 6.4 | Cooperation; Efforts to Consummate | A-29 | ||||
Section 6.5 | Status; Notifications | A-31 | ||||
Section 6.6 | Information; Access and Reports | A-31 | ||||
Section 6.7 | Exchange Act Deregistration; Post-Closing SEC Reports | A-32 | ||||
Section 6.8 | Publicity | A-32 | ||||
Section 6.9 | Employee Matters | A-33 | ||||
Section 6.10 | Indemnification; Directors’ and Officers’ Insurance | A-34 | ||||
Section 6.11 | Takeover Statutes | A-36 | ||||
Section 6.12 | Section 16 Matters | A-36 | ||||
Section 6.13 | Transaction Litigation | A-37 | ||||
Section 6.14 | Treatment of the Company’s Debt | A-37 | ||||
Section 6.15 | Financing Cooperation | A-38 | ||||
Section 6.16 | FIRPTA Certificate | A-39 | ||||
Section 6.17 | Resignations | A-39 | ||||
Section 6.18 | Merger Sub Stockholder Consent | A-40 | ||||
ARTICLE VII CONDITIONS | ||||||
Section 7.1 | Conditions to Obligation of Each Party | A-40 | ||||
Section 7.2 | Conditions to Obligation of the Company to Effect the Merger | A-40 | ||||
Section 7.3 | Conditions to Obligation of Buyer and Merger Sub to Effect the Merger | A-40 | ||||
Section 7.4 | Frustration of Closing Conditions | A-41 | ||||
ARTICLE VIII TERMINATION | ||||||
Section 8.1 | Termination or Abandonment | A-41 | ||||
Section 8.2 | Effect of Termination | A-42 | ||||
Section 8.3 | Company Termination Fee | A-42 | ||||
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ARTICLE IX MISCELLANEOUS AND GENERAL | ||||||
Section 9.1 | Survival | A-43 | ||||
Section 9.2 | Modification or Amendment; Waiver | A-43 | ||||
Section 9.3 | Counterparts | A-44 | ||||
Section 9.4 | Specific Performance | A-44 | ||||
Section 9.5 | Notices | A-44 | ||||
Section 9.6 | Entire Agreement | A-45 | ||||
Section 9.7 | Third-Party Beneficiaries | A-45 | ||||
Section 9.8 | Non-Recourse | A-46 | ||||
Section 9.9 | Fulfillment of Obligations | A-46 | ||||
Section 9.10 | Expenses | A-46 | ||||
Section 9.11 | Severability | A-46 | ||||
Section 9.12 | Successors and Assigns | A-46 | ||||
Section 9.13 | Interpretation and Construction | A-47 | ||||
Section 9.14 | Governing Law and Venue; Submission to Jurisdiction; Selection of Forum; Waiver of Trial by Jury | A-47 | ||||
Section 9.15 | Guaranty | A-48 | ||||
Section 9.16 | Financing Provisions | A-50 | ||||
Annex A | Certain Definitions | ||
Exhibit A | Certificate of Incorporation of the Surviving Corporation | ||
Exhibit B | Bylaws of the Surviving Corporation | ||
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(xvi) | agree, authorize or commit to do any of the foregoing. |
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If to the Company: | ||||||||||||
Atkore Inc. | ||||||||||||
16100 South Lathrop Avenue | ||||||||||||
Harvey, Illinois 60426 | ||||||||||||
Attention: | *** | |||||||||||
Telephone: | *** | |||||||||||
Email: | *** | |||||||||||
with a copy to (which shall not constitute notice): | ||||||||||||
Debevoise & Plimpton LLP | ||||||||||||
66 Hudson Boulevard | ||||||||||||
New York, New York 10001 | ||||||||||||
Attention: | William D. Regner Erik J. Andren | |||||||||||
Email: | wdregner@debevoise.com ejandren@debevoise.com | |||||||||||
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If to Buyer, Merger Sub or Guarantor: | |||||||||
Prysmian S.p.A. | |||||||||
Via Chiese 6 | |||||||||
20126 Milano, Italy | |||||||||
Attention: | *** and *** | ||||||||
Email: | *** *** | ||||||||
with a copy to (which shall not constitute notice): | |||||||||
Wachtell, Lipton, Rosen & Katz | |||||||||
51 West 52nd Street New York, New York 10019 | |||||||||
Attention: | Adam O. Emmerich Ahsan M. Barkatullah | ||||||||
Email: | AOEmmerich@wlrk.com AMBarkatullah@wlrk.com | ||||||||
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ATKORE INC. | |||||||||
By | /s/ William E. Waltz | ||||||||
Name: | William E. Waltz | ||||||||
Title: | President and Chief Executive Officer | ||||||||
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PRYSMIAN S.p.A. | ||||||||||||
By | /s/ Massimo Battaini | |||||||||||
Name: | Massimo Battaini | |||||||||||
Title: | Chief Executive Officer | |||||||||||
TRINITY MERGER SUB, INC. | ||||||||||||
By | /s/ Andrea Pirondini | |||||||||||
Name: | Andrea Pirondini | |||||||||||
Title: | President | |||||||||||
PRYSMIAN CABLES AND SYSTEMS USA, LLC (solely for purposes of Section 9.8 and Section 9.15) | ||||||||||||
By | /s/ Andrea Pirondini | |||||||||||
Name: | Andrea Pirondini | |||||||||||
Title: | President and Chief Executive Officer | |||||||||||
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ARTICLE I | ||||||
OFFICES | ||||||
SECTION 1. | REGISTERED OFFICE | 67 | ||||
SECTION 2. | OTHER OFFICES | 67 | ||||
ARTICLE II | ||||||
MEETINGS OF STOCKHOLDERS | ||||||
SECTION 1. | ANNUAL MEETINGS | 67 | ||||
SECTION 2. | SPECIAL MEETINGS | 67 | ||||
SECTION 3. | VOTING | 67 | ||||
SECTION 4. | QUORUM | 67 | ||||
SECTION 5. | NOTICE OF MEETINGS | 67 | ||||
SECTION 6. | ACTION WITHOUT MEETING | 68 | ||||
ARTICLE III | ||||||
DIRECTORS | ||||||
SECTION 1. | NUMBER AND TERM | 68 | ||||
SECTION 2. | RESIGNATIONS | 68 | ||||
SECTION 3. | VACANCIES | 68 | ||||
SECTION 4. | REMOVAL | 68 | ||||
SECTION 5. | COMMITTEES | 68 | ||||
SECTION 6. | MEETINGS | 68 | ||||
SECTION 7. | QUORUM | 69 | ||||
SECTION 8. | COMPENSATION | 69 | ||||
SECTION 9. | ACTION WITHOUT MEETING | 69 | ||||
ARTICLE IV | ||||||
OFFICERS | ||||||
SECTION 1. | OFFICERS | 69 | ||||
SECTION 2. | CHAIRMAN OF THE BOARD | 69 | ||||
SECTION 3. | PRESIDENT | 69 | ||||
SECTION 4. | VICE PRESIDENTS | 69 | ||||
SECTION 5. | TREASURER | 69 | ||||
SECTION 6. | SECRETARY | 69 | ||||
SECTION 7. | ASSISTANT TREASURERS AND ASSISTANT SECRETARIES | 70 | ||||
ARTICLE V | ||||||
MISCELLANEOUS | ||||||
SECTION 1. | CERTIFICATED AND UNCERTIFICATED STOCK | 70 | ||||
SECTION 2. | LOST CERTIFICATES | 70 | ||||
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SECTION 3. | TRANSFER OF SHARES | 70 | ||||
SECTION 4. | STOCKHOLDERS RECORD DATE | 70 | ||||
SECTION 5. | DIVIDENDS | 70 | ||||
SECTION 6. | FISCAL YEAR | 71 | ||||
SECTION 7. | CHECKS | 71 | ||||
SECTION 8. | NOTICE AND WAIVER OF NOTICE | 71 | ||||
SECTION 9. | CORPORATE SEAL | 71 | ||||
ARTICLE VI | ||||||
INDEMNIFICATION | ||||||
SECTION 1. | INDEMNIFICATION. | 71 | ||||
SECTION 2. | ADVANCE OF EXPENSES. | 72 | ||||
SECTION 3. | PROCEDURE FOR INDEMNIFICATION. | 72 | ||||
SECTION 4. | BURDEN OF PROOF. | 72 | ||||
SECTION 5. | CONTRACT RIGHT; NON-EXCLUSIVITY; SURVIVAL. | 72 | ||||
SECTION 6. | INSURANCE. | 72 | ||||
SECTION 7. | EMPLOYEES AND AGENTS. | 73 | ||||
SECTION 8. | INTERPRETATION; SEVERABILITY. | 73 | ||||
ARTICLE VII | ||||||
AMENDMENTS | ||||||
ARTICLE VIII | ||||||
EXCLUSIVE FORUM | ||||||
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