Shares of nVent gain after wrapping up Maverick Power buy
NVT•nVent shares rose nearly 3% after the company completed its acquisition of Maverick Power for $1.75 billion, subject to customary adjustments. The deal includes potential additional cash consideration of up to $550 million tied to performance metrics in 2027 and 2028.
1. Acquisition completed
nVent Electric completed its acquisition of data center equipment maker Maverick Power for $1.75 billion, subject to customary adjustments. The agreement also provides for up to $550 million in additional cash consideration based on achieving certain performance metrics in 2027 and 2028.
2. Shares and analyst ratings
nVent shares rose nearly 3% to $164.74 in afternoon trading. Seventeen of 19 brokerages rated the stock “buy” or higher, while two rated it “hold”; the median price target was $210.
