US Stock Market Move | Modine Manufacturing Company (MOD.US) surged over 32% at the open on reports that Samsung Electronics is in talks to acquire it.

On Friday, Modine Manufacturing Company (MOD.US) surged over 32% at the open and is now trading at $141.72. On the news front, according to reports, people familiar with the matter said Samsung Electronics is in talks to acquire data center cooling systems manufacturer Modine Manufacturing Company. The two sides are discussing a potential deal that could be reached as soon as the coming weeks. Modine Manufacturing Company currently has a market value of about $5.6 billion. The people familiar with the matter said no final decision has been made yet, the talks could still fall apart, and other bidders could also emerge. As the AI infrastructure boom continues to heat up, M&A activity involving related suppliers is also becoming increasingly active. U.S. companies and their overseas competitors are stepping up investment and acquisitions to compete for data center growth opportunities. Companies in the fray include Samsung's Asian rivals Daikin Industries and LG Electronics, as well as U.S. company Vertiv.