Prysmian拟以约38亿美元现金收购Atkore，押注美国数据中心电气基础设施扩张

【实时直播转录 · Bloomberg TV+】
来源:Bloomberg TV+(bloomberg 直播间 btv_us) · 标题:Bloomberg TV+
时段:2026-08-03 17:30–18:00(Asia/Shanghai),共 189 段
说明:以下为该时段该直播间的连续语音转录(直播 ASR,可能有同音/识别误差)。请从中识别与 AI算力/芯片/服务器/光模块/液冷/数据中心/大模型/机器人·具身智能/自动驾驶 等相关的、**可交易**的公司/产品/订单/产能/需求/合作/高管或官员表态,判断是否构成可交易事件;若通篇无可交易内容,判为不做。识别误差请结合上下文与常识修正,勿据孤立音近词臆断。

--- 转录正文 ---
[17:30] Replacing electronic arts which is getting acquired and so we're up about 8% this morning before Ferguson.
[17:30] Thank you so much. And just a reminder, we will be speaking with the Prisian CEO in Jill stuff few minutes. so do stay tuned Now, the Philadelphia Semi index has wrapped.😊
[17:30] July with a 21% plunge its worst month since October 2008, joining us now is Rebecca wtz CO of Walterer We.
[17:30] Let's put this in perspective, though, Rebecca, the socksx is up 59% year to date, which would be a wonderful, wonderful game.😊
[17:30] Under normal circumstances, however, at the end of June, it was up more than 100% so what do you do as an investor do you just decide it's too much stress?
[17:30] Out of semis. Oh, gosh, I think that would be a huge mistake. And obviously, it is Bonnie very difficult to stay the course, right.
[17:30] This is why you have to really take your risk assessment first and say, what is my risk tolerance and in something like a fourth industrial revolution in something like a new.
[17:30] teechnology frontier, and if you look back at it and I hate to use this but if you look at the. co, you'll see this same type of thing like monetization doesn't really know where the,
[17:31] It's going to land so sometimes it overshoots right, and then we come back down to reality. So you have to understand that is normal in.
[17:31] New technology, and so if you have the tolerance for it, then invest and then stay the course because if you set your mind to this is normal, I'm going to stay the course.
[17:31] And I think you know, three, four, five years tonight now I're going to be very, very happy if there is serious competition from China, though, perhaps there won't be as much pricing power for.
[17:31] semiconductorduct stocks, particularly the memory stocks and just the general AI infrastructure stocks.
[17:31] B concern, know, Kimmiri with moonshot out of China is a huge shot across the bow, and it really goes to.
[17:31] Xi Jinping gave a speech at this technology conference where he said," is it going to be an open source world?
[17:31] Where everything is free or is it going to be more of a capitalistic model like the US where these companies pour trillions of dollars into cap?
[17:32] To really develop their product. and then they reap the financial benefits and rewards. And I think that it's fine for X Jinping to go up there.
[17:32] Say that, but we all know that come his country is actually selling IP, that is their business model, let's get the IP stolen, I'm not saying that Kimmy3 has stolen.
[17:32] I am saying that if China can do things faster and cheaper and it might not be as good, but it's good enough, then that does have a really.
[17:32] ig impactact on our Capex spending and our U based growth around this AI and frontier. So would you be recommending that people take some.
[17:32] To off the table, some profit off the table and perhaps put it to work somewhere else. And where would that be. I definitely think you have to have breath, investment of breath there.
[17:32] Have just everything in AI, especially because of what I just said at a beginning. and it's always very volatile. You can look at sectors at all.
[17:32] To support the AI trade, so the industrials you can look at things that obviously energy, because obviously all of the data centers are very under capitalizes.
[17:32] energy and being able to actually deliver what they're going to promise with the chips themselves. So there's all these ancillries that are also going to be coming up again.
[17:33] If we in America do not remain the hub of the AA frontier, if it does reroute outside of us, then there's going to be massive problems with.
[17:33] Our future projections do you anticipate problems with the data center build out, given how unpopular they are, how many obstacles are being put in there?
[17:33] And what does that mean then I mean, does it take a lot longer to get return on your energy investment or your infrastructure investment and I think it's hard too because.
[17:33] have states like New York saying not we're going to take a pause for a year and do nothing then obviously energy companies, utility companies, they might be.
[17:33] ated to some very rural out in the middle of nowhere where people aren't going to be complaining and Ha and saying, no, we're not doing this. is a big.
[17:33] You're right, Bnie, I mean, we really absolutely have to be able to implement the data centers. the investment has to go somewhere, I can't just be.
[17:33] Thes so let's talk a little bit about the Fed so several things happening, we may have fewer monetary policy setting meetings.😊
[17:34] We also have the 10 year yield creeping ever higher, not to mention the 30 year yield how do you think about how the back?
[17:34] monetary policy is changing and what that means portfolios. Yeah, that is a huge question. and I think Wsh is the man for the job he.
[17:34] That he doesn't like that they're giving so much forward guidance and sort of setting the tone of the market he doesn't want the fed.
[17:34] Leding the market and he did a really good job of saying hey, we're not going to give you this information and after the fe we saw the 30 year old rise the10 years.
[17:34] That basically the market is saying everything is a little too hot and we're naturally raising rates without the Federal reserveserve then actually saying.
[17:34] We're going to raise the F funds rate, so I think that he's already telegraphed this, and I also believe he doesn't believe in the data sources and this is what the reason for the task force.
[17:34] This is the reason he wants to get new analysis of what should we be doing, what should we collecting because it is really outdated, outmoded.
[17:34] It's too much of a laggard, we need more projections without so much guidance, and I think that it's clear that he doesn't like the Fed.
[17:35] what does it mean for a portfolio say the1 year gets to 470, which is basically out right now bonds suddenly.
[17:35] More or less a part of a portfolio, what does it mean for stocks and do you really need to rethink how youre?
[17:35] How you're approaching building portfolios I agree with you, 100%, I think you do, but the bond market has changed for a while.
[17:35] Used to buy bonds and their security. And when investors don't understand that, So security came from holding to maturity. Then you started getting a bond portfolio.
[17:35] Now we're getting bond ETF, so you have bond portfolio managers that are buying and selling bonds all the time, which makes bonds a lot more less of the.
[17:35] Safety play that they were, especially in the middle of massive monetary policy changes and global geopolitical currency changes.
[17:35] This yen situation with the United States also buying yen, and what I notice is they haven't told us how much treasuries they sold Vannie.
[17:36] Actually intervened, so I'm waiting for that number that just happened over the weekend so we're really waiting, but you could start to see it last week go starting something was starting to happen because it was dropping already.
[17:36] And then this week and obviously the big intervention, So I do think that you have to rethink, do you really believe that bonds are the safety play or you just using them for some kind of?
[17:36] You're also looking at other areas. So energy, for example, does it still look attractive, even though we're seeing potential.
[17:36] Tals restart healthcare, where would you even look in healthcare as such a diverse play and also software.😊
[17:36] Yeah, so to take them in order Well, I I'll go and in the reverse order so software obviously is.
[17:36] It's a really still good value play, I mean, it's going to have its end at some point because eventually AI will take.
[17:36] But we're not there yet, and I think that the margins are really increasing, the cash flow is increasing, so it is definitely under.
[17:36] Priced right now, and then for that reason I think it's a good rotation into energy is obviously just based on what's going on with there.
[17:37] I just don't believe that unfortunately, we can get a solid deal that is just cut and dry, so I believe that we'll still have more volatility back.
[17:37] nergy, I wish we could get a deal would be over, but that's not the case and with healthcare, you have to really look at the ones that are newer, that are got the GLP ones and have.
[17:37] That's where the growth engine is right now is in the GLP1 space, not so much the old legacy, lot of the patents are coming.
[17:37] ffOf some of the older legacies. So that's why the healthcare rotation is really into the more of the GLPs. And we have one out of8 Americans.
[17:37] On GLP ones right now in this country, so some of that has already been taken but we'll see the variance or we'll come along and that'll be better All right Rebecca we have to leave.
[17:37] But thank you so much that is rebecca wer of wer wealth management now to all the top stories trending on the terminal this morning.
[17:37] 🎼50% stake in a portfolio of assets from total energy valued at $2.1 billion. The stake is the latest in a string of green.
[17:38] 🎼Hower deals for KKR, the KKR deal is part of Ta how energy's strategy of all floating stakes and renewable projects.
[17:38] 🎼Senate negotiators reached a bipartisan deal to avoid a government wide shut down this fall Senate Major leaderad joone plans to bring the.
[17:38] Up for a vote this week ahead of the chamber's Augustt recess, Republicansan moved to take a shutdown off the table ahead of the midterms.
[17:38] 🎼Spiderman, brand new Day delivers Hollywood's second biggest debut ever, the film featuring Tom Holland as Spiderman made 00.😊
[17:38] 🎼55 million in the US and Canada over the weekend, a story about an isolated man torn between his duty to serve the city and his desire.
[17:38] 🎼For personal connection, A plot apparently that resonates with audiences, Marvel's Avengers and game holds the number one spot for Hollywood.😊
[17:38] 🎼up an exclusive interview with Maimobati, CEO of Prisian on its.😊
[17:38] Deal to by US electrical parts maker Accor, this is Bberg.
[17:39] In case you missed it on Blueberg surveillance which analyst we've got a ask.
[17:39] Can this really continue at this rate, what we see in our data as a consumer so spending, the consumer spending in America, that means economy is okay and that probably means.
[17:40] The rest of the markets and the construct and the final demand there what are the potential thresholds that could potentially sty me some of the pipeline?
[17:40] Because they see opportunity, what it's equipment buying, what it's hiring, what's building a plant, whether it's inventory buildup don'pe miss Bberg surveillance live.
[17:40] Everyday historically bubbles were characterized by a notion of if you build it.
[17:40] Come in the late 90s when we were building out data networking equipment, people were putting huge amounts of fiber in the ground on the.
[17:40] Assumption that it would come and economists like to go back for reasons that are unclear to me of the railroads, they were also if you build it they will come.
[17:40] What is unusual about AI right now is the builders are so far behind the demand that's absurd We have a backlog of more than20.
[17:40] 🎼5 billion of demand that there are none of us, not us, not AMD, not Mid that can keep up with the demand.
[17:40] 🎼Man that your employees are driving that's in a lot of ways the opposite of a bubble. we are chasing our customers and their customers.
[17:41] Customers are moving at the speed of software and we're moving at the speed of real estate data centers, right, and so we are behind.
[17:41] Mind being called an ideological lunatic or a bunch of left.
[17:41] Wing not jobs you know, i've been called worse things than that.
[17:41] So incredibly valuable We're coming back Whats were you reading Ki' I was reading magazines.
[17:41] I was in them, so is it paradise ahead or Gattica, maybe somewhere in the middle?
[17:41] This.
[17:41] Thisberg brief I'm Bonnie Quinn in New York, shares of electrical manufacturing company at Co soaring in the premarket that's after Italy.😊
[17:42] Prismian struck an all cash deal to acquire it at a value of about $3.8 billion the latest in a series of deals the Milan based company.
[17:42] hich was originally spun out of Pill the tirer has made to expand its presence in the U. and I'm pleased to say Pris and CEO.😊
[17:42] But Taini joins us now from Milan. So congratulations, you had been looking for a deal roughly around the $4 billion size.😊
[17:42] Massosso what's next, have you more firepower for more M&A?
[17:42] Thank you, we definitely have more firepower than $4 billion dollars we mentioned a few months ago, a firepower around 10 billion.
[17:42] Dollars through our Treasury shares, the equity rates and the financing debt. And so we will be continue looking for more.
[17:42] It's important that we remark that what we are looking for is additional expansion our leadership in some geographies.
[17:42] US is a priority one, and also we look at complementity of the portfolio because cables plus other components.
[17:43] Help us enhance our leadership in the market and benefit from the strong driver growth in the electrification space in US.
[17:43] And also from data centers span should not build out, so we will continue looking at those type of opportunities in the coming months.
[17:43] Very similar companies then to Atcorre or something slightly in the neighborhood of just electrical manufacturing.
[17:43] Gener but similar to Artkoma baby in similar in different segmentss, so we have a basis.
[17:43] For cement business transmission is where we own full leadership and we can't by anyone.
[17:43] But in electrification, in power grid and in digital solution, it is where we can complement our portfolio with.
[17:43] Similar company to address So adding somethinging to our cable portfolio so that we can package a cable.
[17:44] And components and installation devices, all the staff were sensing, for example, to strengthen our leadership in the market and you're looking primarily in the.
[17:44] Do you have targets in mind yet are looking in U we are looking also in other regions.
[17:44] As a great favor from us, I lived there for a long time and.
[17:44] In market is. How nice is the consolidation the market on the customer side on the surprise side.
[17:44] US is exposed to the strongest driver growth are, the one coming from data center, and we are unique in data center.
[17:44] Because we can sell to data center, all cables that goes from electrification of the building have grid to.
[17:44] To strengthen the grid and also digital solution, optical cable that goes inside a building and connect a center among them.
[17:44] We are the only one having a possibility and the capability to play in all the value steps of the.
[17:45] Now when it comes to acorre, it's mainly USd, so 88% of its sales are in the United States.
[17:45] to try to have it expand in the European market or will you keep it US based?
[17:45] Now I mean we will keep the US base, we have also similar synergies to the one in the US in the other geographies.
[17:45] as a footprint, interesting footprint in Australia and New Zealand, also in UK and Europe.
[17:45] the.
[17:45] What's the proportion of debt and equity that you're using in order to make this deal happen?
[17:45] Basically raising 20% of the equity of the enterprise value as new equity or new equity.
[17:46] Or maybe using our Treasury share. So it's not so much. it's not that much. and its needed because we want to maintain our.
[17:46] Investment grade, and that's the condition to allow us to maintain it. some fund, some debt and also equity.
[17:46] I have to mention that Acor had been under pressure from an activist, investor, Iranian capital management, did you have or have to have?
[17:46] Consations with this acquisition is being performed.
[17:46] Our competitive process there were other players, US players that were after this acquisition, this company, we have nothing to do with.
[17:46] The activist. and so we, we work intensively in the last two months with with the advisor of.
[17:46] Atcorre to compete against the other competitors. Now, Atcorre has seen a little sales decline in the last couple of years.
[17:46] It' a medium term outlook for bringing that sales figure back up has.
[17:47] To a spaing process in 2223, where the margins has risen to unprecedented.
[17:47] vel which is what has happened also to our premium perimeter in United States. then the level of EBITDA margins and revenues.
[17:47] It normalized over the last three years, we think that now we are at the bottom or they are at the bottom in terms of either the margin and revenue.
[17:47] And from now moving onwards, there will be different drivers from the market helping us restore higher profitability.
[17:47] In growth in revenue alongside 150 million of EBITDABTD coming from synergies.
[17:47] 60%,60,70% of synergiesergy will be extracted from commercial opportunity. So the idea is to package.
[17:47] Cables with component and sell more gain more shadow wallet within our distributorors with the common go to mark.
[17:48] It also ask the rest of the 30% synergiess will be basically about organization, procurement.
[17:48] And operations. So consolidation of footprint in US, you know, they have 30 factories at core.
[17:48] We also at Pri 30 factor in US. So with 60 factories, now we sit in US with.
[17:48] largearge footprint able to service properly, customer with shortly timer and fast delivery.
[17:48] From every part of the state, this is a very important strength to be even more competitive in the data center.
[17:48] buildWell, Maimo can't wait to see what you do next and thank you once again for your time. That's Masimo Bani.
[17:48] EO of Prisian Let's get a check on the yen right now as we've had plenty of action around this currency in the last.
[17:48] Three days, including the weekend right now we're trading at 15702 so very slowly but surely creeping back up there, bloomberg analysis indicated.
[17:49] That Japan likely spent around $34 billion intervening in the currency market Fridayday. bloomberg's van Ram joins us now for more.
[17:49] It looks like all the bears haven't been chased away, certainly Certainly not yet because they've still got the work cut up.
[17:49] To do, I mean, for all the firepower and for all the pyrotechs that we have had over the weekend, I mean, the yen is up dollar yen.
[17:49] Is down just 3%. So it's not too much bang for the buck. And what it shows Vny is that the most.
[17:49] Important player in all this is not the US Treasury, is not the Japan Japanese finance Ministry, but the Bank of Japan, the Bank of.
[17:49] Japan needs to raise rates at a faster pace because they are behind the curve in fighting inflation. And that is what is holding.
[17:49] Bondholderers back. And that is the same concern that is rippling through into the currency markets. The moment the B OJ shows intent to.
[17:50] Put up its real rates to positive territory, you will see the yen come back up at a faster pace.
[17:50] They can do with intervention alone and that's the point that the Japanese authorities are missing Yeah, like I said earlier, we saw 140.
[17:50] Back in 2024 right it was a 20 big figure move. so then, why are the markets not anticipating that there'll be a hike in September?
[17:50] Tasury Secretary Scottant is all for the of Japan of.
[17:50] W to make sure that they are not killing stamping out inflation, because let's if you go back in history warning, Japan has had a very long.
[17:50] As had lost decades where they haven't had meaningful inflation, and now they've had inflation for the past few years.😊
[17:50] They want to make sure they don't want to go back, relapse into the deflationary era. and that's why theyre showing so much caution.
[17:50] That as I said, that short changes nominal bondholders, and that is why we are seeing the reaction in the markets that we are seeing now.
[17:51] We have to leave it therere not even going to get to talk about the F that is Bloomberg's, then Ram this is Bloomberg.😊
[17:52] 🎼In case you missed it on Daybreak with.
[17:52] I interact a lot with Americans and Chinese players. and we see a Trump fighting for their companies all the time. We see the Chinese.
[17:52] Fighting for their companies all the time. here in Europe, I feel I'm fighting against the European regulators, not that they are fighting for us. They are fighting against us.
[17:52] 🎼It's a big mistake because we need to have really big global tech leaders in Europe break Europe live every weekday.
[17:52] Bringing you up to the minute global news whenever and wherever it happens, I'm shana Verace in Ellajaa, sdi Arabia.
[17:53] berg from the world of politics.
[17:53] 🎼News insight and analysis live two times a day every trading day balance of power at one and five Eastern only on.
[17:53] BloombergNext week on leaders with me Fran Laqua, I speak with investor and entrepreneur Amanda Staveley on the boldest deal.
[17:53] 🎼That was that was brave walking away from NewcastleIt was the toughest decision.
[17:53] I've made it was so hard and what she's looking for in her next football club I just want a challenge So tune podcast.
[17:53] of leaders with Fran Laqua listen and watch on Bloomberg television or wherever you get your podcasts.
[17:53] 🎼For fixed income watch Bberg real yield every Thursday at 12 PM Eastern right here on bloomloberg context.
[17:54] 🎼everything now look what ahead this week your first trading week in August first up Space access first earnings report coming on.😊
[17:54] Tuesday with a lock up expiring two days later that's followed by novo ork and Disney on we will keep a close eye on F speak.
[17:54] 🎼Throughout the week, starting with Schmidt and Cook on Wednesday and wrapping up the week with the Joer force Friday.😊
[17:54] surging before the be after an acquisition from Italy'ssian is following US electrical products maker at about 3.8.
[17:54] Billion dollars also astrazeneca looking to acquire bristtol myers that have had talks and that's causing brstol myers to soar.
[17:54] Aba out with a new trend model and it's supposed to be able to rival anthropics major model sending those shares higher.
[17:54] Picture for your day ahead.
[17:55] Everybody has a moment where they put into action.
[17:56] 🎼They've practiced where they step up to a challenge and either succeed or fail. But what are those moments for some of the world.
[17:56] influentialIt was a rough and humblemble world and I thought, okay, I can rise up, I can play this game and I did play the game.
[17:56] Great and it was depressing and it was disappointing my chair at the time sat down with me and said,Session starts now.
[17:56] Laqua, an award winning journalist for the last 25 years I've interviewed world leaders, bank bosses, even fashion.
[17:56] 🎼I'm often asking about the news of the moment, but I've always been curious who are these people as leaders.
[17:56] version of leaders with Fran Laqua I'll start your week with conversations that explore what drives the world's most influential people.
[17:56] How today's leaders got to where they are, where they're going next and how they've transformed their organization in the process.
[17:56] A poor decision is always better than no decision. You have to have truth tellers around and you have to be willing to listen.
[17:57] 🎼Don't want to be setting strategy in the middle of a transaction. That's for sure. Do it for the right reasons Don't do it because of F.
[17:57] 🎼Lessons which we can apply to our work and daily lives Tu into the podcast version of leaders with friends.
[17:57] 🎼Blo television or wherever you get your podcasts.
[17:57] 🎼Bloomberg is covering all things crypto the people and the technology.
[17:57] 🎼Bloomberg crypto Tuesdays only on Bloberg bringing you up to the minute political news whenever.
[17:57] And wherever it happens, I'm Joe Matthew on the south one of the White House this is bloomberg.
[17:57] All in all, earnings were pretty good across the board.