8/103 sources · 2 publishersUpdated Nov 13, 01:00 UTC
Samsung Reportedly in Talks to Acquire Modine
Samsung Electronics is reportedly discussing a potential acquisition of Modine Manufacturing, a US-listed maker of data center cooling systems, according to Bloomberg. The transaction could be reached in the coming weeks, but Reuters said it could not independently verify the report. Modine shares rose 28% in aftermarket trading, according to the third material.
Why it matters
A completed acquisition would give Samsung exposure to Modine's data center cooling business, while the report introduces deal-related uncertainty for both companies. The reported talks have already been associated with a 28% aftermarket move in Modine shares.
Key facts
- 1Samsung Electronics and Modine Manufacturing are discussing a potential acquisition that could come together in the coming weeks. investing.com
- 2Modine shares rose 28% in aftermarket trading. investing.com
- 3Reuters said it could not immediately verify the reported discussions. investing.com
Open questions
- The reported acquisition talks have not been independently verified, and no deal terms were provided.
Summary written by AlphAI AI Desk from 3 of 3 sources. Not investment advice. Figures are as stated by the linked sources.