Madison Air Solutions falls after agreeing to buy Germany's ebm-papst in $5.4 billion deal
BUZZ-Madison Air Solutions falls after agreeing to buy Germany's ebm-papst in $5.4 billion deal ** Shares of heating, ventilation and air conditioning firm Madison Air Solutions MAIR.N down more than 3% at $30.23 in early trading
** Co to acquire German fan maker ebm-papst in $5.4 billion deal
** The acquisition strengthens Madison Air's footprint in Europe and enhances its technology capabilities
** Ebm-papst says the deal gives it access to the fast-growing U.S. data center market, where demand for cooling systems is increasing as operators deploy more powerful chips and servers
** The company says it retains its headquarters in Mulfingen, southern Germany, as well as key research, development and production operations
** Ebm-papst is a major supplier of fans, motors and ventilation systems used in air conditioning and refrigeration
** Including the session's move, MAIR down 6.2% YTD
(Reporting by Apratim Sarkar in Bengaluru)