Shares of nVent gain after wrapping up Maverick Power buy
BUZZ-Shares of nVent gain after wrapping up Maverick Power buy ** Shares of electrical solutions provider nVent Electric NVT.N rise nearly 3% to $164.74 in afternoon trading
** NVT announces completion of previously-announced intention to acquire data center equipment maker Maverick Power for $1.75 bln, subject to customary adjustments
** The transaction also includes the potential additional consideration of up to $550 mln in cash, based on achieving certain performance metrics in 2027 and 2028
** The deal grows nVent's presence in the AI infrastructure market, where spending on data center power and cooling has been driving demand
** 17 of 19 brokerages rate the stock "buy" or above, 2 "hold"; their median PT is $210, according to data compiled by LSEG
** Including session moves, NVT up 61.6% YTD
(Reporting by Miraanta Lowrance in Bengaluru)