Nov 19 (Reuters) - Electric component maker Atkore ( ATKR )
is considering options including a potential sale after
it came under activist investor pressure, Bloomberg News
reported on Wednesday, citing people familiar with the matter.
Atkore's ( ATKR ) shares rose more than 2% following the news,
bringing its market value to about $2.19 billion.
The company did not immediately respond to Reuters'
request for comment.
Bloomberg News reported in September that Irenic Capital
Management, an activist investor holding a 2.5% stake in Atkore ( ATKR ),
was urging the board to explore a potential sale.
Atkore ( ATKR ) had also said in September it was exploring the
potential sale of its high-density polyethylene pipe and conduit
business, which serves the telecommunications market and several
other non-electrical infrastructure-focused assets.
In August, Atkore ( ATKR ) missed its third-quarter revenue
estimates, according to data compiled by LSEG.
The company's core electrical infrastructure portfolio
includes product lines and businesses from both its electrical
and its safety and infrastructure segments.
Atkore's ( ATKR ) shares are down nearly 20% this year.