Samsung reportedly in talks to buy data center cooling firm Modine
MOD•Samsung Electronics is reportedly in talks to acquire Modine Manufacturing, with a potential deal possible in the coming weeks. Modine shares surged 29% in extended trading; no final decision has been made, and the talks could fall apart or another suitor could emerge.
1. Potential acquisition talks
Samsung Electronics is in talks to acquire Modine Manufacturing, a U.S.-listed maker of cooling systems for data centers, Bloomberg News reportedly said, citing people familiar with the matter. A potential deal could come together as soon as the coming weeks.
2. Shares jump
Modine shares surged 29% in extended trading following the report. The company had a market value of $5.6 billion as of Thursday.
3. Talks remain uncertain
No final decision has been made, and the talks could still fall apart; another suitor could also emerge. Reuters could not immediately verify the report, and Samsung and Modine could not be reached for comment immediately.
