Modine Manufacturing to sell its engine business - Stock hits a new all-time high!

Modine Manufacturing announced on January 29 that it would sell its Performance Technologies (engine business) division to Gentherm for approximately $1 billion. Modine's shareholders are expected to own 40% of the merged company, while Gentherm's shareholders are expected to own 60%. Following this announcement, Modine's stock jumped by over 20%. However, the stock could still rise further. Ultimately, with the sale, the focus will shift toward data center cooling. This could lead the market to reevaluate the stock as a provider of AI infrastructure....