German engineering group Robert Bosch considering acquisition of American household appliance manufacturer Whirlpool
German engineering group Robert Bosch is considering the acquisition of American household appliance manufacturer Whirlpool, which could significantly strengthen its position in the market. According to Reuters, Bosch is in talks with potential advisors regarding the possibility of making an offer for Whirlpool, whose market capitalization is approximately $4.8 billion, a source stated.
Sources do not disclose specific information about the potential deal and remain anonymous due to the confidentiality of the matter.
Representatives of Bosch and Whirlpool declined to comment on the «market rumors.» Shares of the American company jumped 12.7% after Reuters reported.
The deal for a possible acquisition of Whirlpool would be a significant step for Bosch in the household appliance sector, especially amid increasing competition from Asian manufacturers.
In recent years, Whirlpool has undergone significant restructuring, including the merger of its European business with Turkish competitor Arcelik and the sale of assets in the Middle East and Africa.
The potential acquisition of Whirlpool comes against the backdrop of Bosch’s strategic expansion, which is the world’s largest supplier of automotive components, in the large home appliance sector.
In the event of a deal, which would be one of the largest in the history of the German industrial group, Bosch would significantly strengthen its position in the global market.