Samsung Electronics is in talks to acquire data center cooling manufacturer Modine

According to Bloomberg, informed sources say that Samsung Electronics is in talks to acquire the U.S.-listed data center cooling system manufacturer Modine Manufacturing. The two parties are discussing a potential deal that could be reached in the coming weeks. No final decision has been made yet, and negotiations could still break down or other bidders may emerge.

Modine was founded in 1916 and primarily develops thermal management systems. As of Thursday, the company's market value was approximately $5.6 billion. Following the announcement of the acquisition talks, Modine's stock price rose about 29% in after-hours trading.