Giant Whirlpool appliance stock soars Wednesday

Giant Whirlpool Appliance Stock Soars Wednesday — Here’s Why

Robert Bosch GmbH reportedly considering bid for US appliance maker Whirlpool Corp (NYSE: WHR), according to three people familiar with the matter.

If successful, this acquisition would strengthen Bosch’s presence in the home appliances market, reports Reuters.

Whirlpool shares rose Wednesday on the news.

Read also: Strategic sale: Whirlpool will partially reduce its stake in its Indian subsidiary in 2024

Bosch has consulted with potential advisors regarding a possible bid for Whirlpool, which currently has a market capitalization of about $4.8 billion.

Whirlpool recently underwent a significant restructuring, including the merger of its European operations into a new entity controlled by a Turkish competitor. Arcélik and selling its operations in the Middle East and Africa.

The acquisition of Whirlpool, one of the world’s largest producers of home appliances, would significantly strengthen Bosch’s home appliances division. The move is seen as a strategic effort to strengthen its market position and compete more effectively with growing Asian players.

Whirlpool shares have lost more than 39% over the past 12 months. Investors can gain exposure to the stock via iShares Core S&P Mid-Cap ETF (NYSE: IJH) and the Schwab US Dividend Equity ETF (NYSE: SCHD).

Price action: WHR shares were up 17.50% at $102.24 at last check Wednesday.

Read also: Burned by delay: Whirlpool settles for millions of dollars on dangerous cooktops

Disclaimer: This content was partially produced using AI tools and was reviewed and published by Benzinga editors.

Photo by Grzegorz Czapski via Shutterstock

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