Samsung in Talks to Acquire Modine Manufacturing

Samsung is in negotiations to acquire Modine Manufacturing, a United States-listed company that specializes in cooling systems for data centers. The electronics conglomerate is seeking to bolster its infrastructure capabilities, though officials have not yet reached a final decision on the deal.

Negotiations are ongoing and could be finalized within the coming weeks. However, the potential acquisition remains subject to collapse or the emergence of competing suitors. Modine Manufacturing held a market value of US$5.6 billion as of November 12.

Market reaction to the reports was immediate, with Modine Manufacturing shares surging 29 percent in extended trading.