Modine jumps as Samsung reportedly holds acquisition talks
MOD•Modine Manufacturing shares rose 30% premarket after Samsung Electronics reportedly discussed acquiring the data center cooling firm. The talks could produce a deal in weeks, but no final decision has been made and they could fall apart.
1. Acquisition talks
Samsung Electronics is in talks to acquire Modine Manufacturing, with a potential deal possibly coming together in weeks. Modine shares rose 30% to $138 premarket, and its market capitalization was $5.64 billion at the previous close.
2. No final decision
The talks could still fall apart, and another suitor could emerge. The report could not be immediately verified, and the companies could not immediately be reached for comment.
