SEOUL — Samsung Electronics is in talks to acquire Modine Manufacturing, a U.S.-listed maker of cooling systems for data centers, Bloomberg News reported on Thursday, citing people familiar with the matter.
The companies are discussing a potential transaction that could come together as soon as the coming weeks, the report said. No final decision has been made, and the talks could still fall apart or draw another bidder.
Shares of Modine surged 29% in extended trading after the report. The company had a market value of $5.6 billion as of Thursday, according to data compiled by LSEG.
A deal would deepen Samsung's push into the equipment that keeps artificial intelligence data centers running. Samsung completed its acquisition of FlaktGroup, a German heating, ventilation and air-conditioning company, in November 2025, and Modine supplies thermal management and cooling systems used in data centers.
Reuters said it could not immediately verify the Bloomberg report, and Samsung and Modine could not be reached for comment.
