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Why Atkore Stock Soared Today

TheMotleyFool

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Why Atkore Stock Soared Today: https://g.foolcdn.com/editorial/images/881935/data-centers-gettyimages-1131198259.jpg

Shares of Atkore (NYSE: ATKR) spiked on Monday after the electrical products manufacturer agreed to be acquired by (OTC: PRYMY), a leading provider of power cables and other energy connection solutions, for roughly $3.8 billion.

Image source: Getty Images.

Under the terms of the deal, investors would receive $95 in cash for each share of Atkore stock they own. That's a premium of about 30% to Atkore's closing price on Friday.

Source Fool.com