Overview
- Reports on Friday said Samsung is negotiating to buy Modine but neither company has announced a deal and talks could still fail or attract other bidders.
- Modine’s shares jumped sharply after the report, rising about 23% in premarket trading and finishing up roughly 28% as investors priced in a possible sale.
- Modine refocused this year on commercial HVAC and data-center cooling after spinning off its Performance Technologies unit and reported second-quarter fiscal 2027 revenue up 35% with data-center sales jumping 95% to $439.7 million.
- Samsung has been building a cooling business since buying FläktGroup in 2025 and is adding production capacity in Korea to sell liquid and hybrid cooling to hyperscale AI operators.
- No price or terms have been reported, so the key near-term developments to watch are any official announcement, disclosure of deal terms, or entry of rival bidders for Modine.