Rexel shares edge up on GCG acquisition

** Shares in Rexel RXL.PA rise 1.5% after the French electrical parts supplier on Friday said it would acquire US infrastructure distributor GCG for $1.4 billion by the end of 2026

** "We view Rexel’s acquisition of GCG as a strategically attractive move," J.P.Morgan said

** JPM noted that the deal expands Rexel's presence in the fast-growing North American market and should lift its margins before any synergies

** The transaction also increases exposure to data centres and provides an entry into new end markets such as utilities at an undemanding valuation, the brokerage added

** Up to the previous session's close, shares were up 8.1%​ YTD