Samsung in talks to buy data center cooling firm Modine
NEW YORK: Samsung Electronics is in talks to acquire Modine Manufacturing, a US-listed maker of cooling systems for data centers, Bloomberg News reported on Thursday, citing people familiar with the matter.
Samsung Electronics is reportedly in discussions to purchase Modine Manufacturing, a US-based manufacturer of cooling systems for data centers, according to Bloomberg News. The potential deal, which could be finalized within the next few weeks, was disclosed by sources familiar with the situation. Modine's stock price jumped by 29% in after-hours trading following the report, with the company's market value valued at $5.6 billion as of Thursday.
However, the final decision has not been made, and the negotiations may still fall through. There is also a possibility that another company could emerge as a potential buyer. Bloomberg News could not immediately confirm the report, and Samsung and Modine declined to comment.
Written by urgent.news from CNA - Business's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
This story
This is one outlet's version. Read the fullest account.
- Samsung in talks to buy data center cooling firm Modine, Bloomberg News reports channelnewsasia.com
