Samsung is in talks to buy Modine (MOD), whose data center cooling sales nearly doubled

Key points Samsung Electronics is in talks to buy Modine, a maker of data center cooling systems Modine shares rose about 30% in after-hours trading after the report Modine's data center sales nearly doubled last quarter, to $439.7 million Samsung Electronics is in talks to acquire Modine (MOD), a maker of cooling systems for data centers, Bloomberg reported on Thursday. A deal could come together as soon as the coming weeks, according to the report. Reuters said it couldn't immediately verify the report. Modine shares closed at $106.10 on Thursday, down 0.5%, before the report came out at 6:43 p.m. ET. They traded at $137.45 at 7:23 p.m. ET, up about 30% from the close. At the closing price, Modine was worth about $5.6 billion. Neither company has announced a deal. Modine's data center sales nearly doubled Modine completed the spin-off of its Performance Technologies business on Oct. 1, according to an SEC filing.

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