nVent Electric slips after $1.75 billion Maverick Power deal
24/08/2026 12:53
BUZZ-nVent Electric slips after $1.75 billion Maverick Power deal ** Shares of electrical solutions provider nVent Electric NVT.N fall about 2% to $149 premarket
** NVT says it will acquire data center equipment maker Maverick Power for $1.75 billion as it looks to expand its presence in a booming AI infrastructure market
** Rising investment in data center power and cooling infrastructure to support AI expansion is boosting demand for suppliers such as nVent
** nVent says the deal includes up to $550 million in additional cash payments if Maverick meets certain performance targets in 2027 and 2028
** The transaction is expected to close in Q4 of 2026, with nVent funding the acquisition through cash on hand and new debt
** As of last close, NVT had risen 49% YTD
(Reporting by Apratim Sarkar in Bengaluru)