Robert Bosch GmbH is reportedly considering a bid for U.S. appliance manufacturer Whirlpool Corp (NYSE:WHR), according to three individuals familiar with the situation.
If successful, this acquisition would enhance Bosch’s presence in the white goods market, Reuters reports.
Whirlpool stock soared Wednesday on the news.
Also Read: Strategic Divestiture: Whirlpool To Partially Reduce Ownership In Indian Subsidiary In 2024
Bosch has been consulting with potential advisers regarding a possible offer for Whirlpool, which currently holds a market capitalization of approximately $4.8 billion.
Whirlpool has undergone significant restructuring recently, including merging its European operations into a new entity controlled by Turkish competitor Arçelik and selling off its Middle Eastern and African businesses.
The acquisition of Whirlpool, one of the largest global white goods producers, would significantly bolster Bosch’s home appliance division. This move is seen as a strategic effort to enhance market position and compete more effectively against growing Asian market players.
Whirlpool stock has lost over 39% in the last 12 months. Investors can gain exposure to the stock via the iShares Core S&P Mid-Cap ETF (NYSE:IJH) and the Schwab US Dividend Equity ETF (NYSE:SCHD).
Price Action: WHR shares traded higher by 17.50% at $102.24 at the last check on Wednesday.
Also Read: Burned By Delay: Whirlpool Settles For Millions Over Hazardous Cooktops
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo by Grzegorz Czapski via Shutterstock
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This article Home Appliances Giant Whirlpool Stock Is Soaring On Wednesday – Here’s Why originally appeared on Benzinga.com
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