Sep. 30 at 7:24 PM
Atkore Inc. shares rose Tuesday after Bloomberg reported that activist investor Irenic Capital Management acquired a 2.5% stake in the company and is pressing for a potential sale. Sources indicate that Irenic has held private discussions with Atkore’s board and management, arguing that a sale to private equity would deliver the best value for shareholders.
The Illinois-based electrical manufacturing company is already exploring strategic alternatives. Atkore stated it is "evaluating a broad range of alternatives" aimed at strengthening focus on its core electrical infrastructure business. The company has engaged Citigroup Inc. to assist with the strategic review and explore possible transactions. The move highlights growing investor pressure on industrial companies to consider restructuring or sale options to maximize shareholder value.
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