By Benjamin Horney ( August 3, 2016, 6:55 PM EDT) -- Samsung Electronics Co. is nearing a deal to acquire Italian auto parts maker Magneti Marelli SpA from Fiat Chrysler Automobiles NV, Bloomberg reported on Wednesday. According to the report, Samsung is in advanced talks to acquire either part of the company's operations or the unit in its entirety, and a deal could close before the end of this year and be worth more than $3 billion. Rumors that Magneti Marelli was on the block date back to last summer, when reports said the unit had received interest from potential buyers, including two unnamed U.S. private equity funds. Magneti Marelli supplies electronic, suspension and exhaust systems, automotive lighting, powertrains, and various other components to major carmakers in Europe, the Americas and Asia....