Atkore approves Prysmian deal as South Africa expands power - 07 Oct 2026

As of October 7, today's news highlights significant developments in energy projects and corporate acquisitions, with a particular focus on Prysmian's anticipated acquisition of Atkore. Prysmian announced that, at a special meeting held earlier today, holders of a majority of the outstanding shares of common stock of Atkore voted in favor of adopting the merger agreement signed on August 2, 2026. Under the agreement, Prysmian will acquire Atkore for 95.00 dollars per share in cash. Prysmian currently expects the acquisition to close on October 19, 2026, subject to the satisfaction or waiver of the remaining closing conditions, including the remaining regulatory clearance and other customary conditions, the company said in a statement. Menawhile, in South Africa, Energy Minister Kgosientsho Ramokgopa announced a focus on rolling out 9.6 gigawatts of battery storage and gas-to-power projects as part of the country’s long-term power strategy, which aims to add more than 105 gigawatts of new generation capacity by 2039. As part of the initial phase, South Africa plans to procure 4.6 gigawatts of battery storage and 5 gigawatts of gas-to-power capacity to support its shift from coal dependence, with a significant portion of the new generation expected to come from renewable sources. Turning to market updates, Canadian power producer Northland Power and Poland's Orlen have completed the installation of 76 turbines at the Baltic Power offshore wind project, set to generate 1.1 gigawatts when operational, expected by 2026. This project underlines the growing trend of investment in renewable energy infrastructure across Europe. In broader scenarios, South Korea's government introduced a substantial energy transition strategy, investing 1,000 trillion won (approximately 747 billion euros) to expand renewable energy capabilities and decarbonize heavy industry by 2035. This plan emphasizes the need for innovative solutions in green sectors, aiming for 100 gigawatts of renewable energy capacity by 2030 and a push for electric and hydrogen-powered vehicles. Elsewhere, Indonesia's senior minister revealed plans to review electricity export deals, ensuring the country reaps maximum benefits from its agreements, while Singapore appears poised to fall short of its 2035 green power import target, as noted by Wood Mackenzie. On the corporate side, Apollo Global Management has submitted a non-binding bid for German energy firm Uniper, signaling further interest in the European utility market post-bailout measures, while market dynamics are impacted by fluctuations in bank stock performance amid rising oil prices and fiscal concerns.