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Samsung Electronics is reportedly in negotiations to acquire Modine Manufacturing Company, a manufacturer of data center cooling systems, according to sources familiar with the matter. A deal could potentially be reached within the coming weeks.
Modine currently holds a market value of approximately $5.6 billion. Its stock price has declined roughly 15% since the company reported quarterly earnings that fell short of expectations on November 3.
The talks remain ongoing and have not yet been finalized. The deal could still fall through, or competing bidders may emerge.
The potential acquisition underscores the surge in AI-related M&A activity as companies ramp up their data center investments—among them Samsung, Daikin Industries, LG Electronics, and Vertiv. Both Samsung and Modine declined to comment.
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