Samsung in talks to acquire data center cooling maker Modine

Samsung Electronics is discussing a potential acquisition of Modine Manufacturing, a U.S. maker of data center cooling systems, according to people familiar with the talks cited in reporting. The discussions could produce an agreement within weeks, but no final decision has been made and they could end without a deal.

Neither company had announced a transaction as of November 13, and no offer price or terms were reported. The account of the talks traces to unnamed people familiar with the discussions; Reuters said it could not immediately verify the report. Samsung and Modine representatives declined to comment or could not immediately be reached for comment.

Modine shares rose about 29% in after-hours trading following the reports. The company’s market capitalization before the jump was about $5.6 billion, a stock-market valuation rather than a reported purchase price. Samsung shares also gained in Seoul, though reports gave different measures of the move during trading.

Modine, based in Racine, Wisconsin, makes heating and cooling equipment for commercial buildings and industrial uses. Its data center business is its fastest-growing operation, and the company has been shifting...