The all-cash transaction is expected to close by early next year, subject to regulatory approvals. The London-based electrical equipment maker said it will discuss the transaction during its second-quarter earnings call next Tuesday. (The Logic)

Talking point: Bloomberg reported in May that nVent was working with an advisor to run an auction process for nVent Electric plc. The division was expected to be valued at US$1.5 billion at the time, less than Toronto-based Brookfield’s purchase price. The deal comes as global M&A picks up, including among industrial conglomerates looking to offload assets. A recent PitchBook report found that valuations of companies being sold have stabilized, suggesting buyers and sellers have come to terms on what assets are worth. The prospect of lower interest rates later this year could also motivate buyers, according to the report.