Whirlpool shares skyrocket 19% as Bosch weighs bid for parent company
Whirlpool of India rose 19% on BSE to its fresh all-time high of Rs 2,190 as German engineering group Robert Bosch is reportedly weighing a bid for the parent company Whirlpool Corporation.
The privately held German industrial firm has been consulting with potential advisers about a possible bid for Whirlpool Corporation, Reuters said, citing three people familiar with the matter
The deal is still under consideration and there is no certainty that an offer will be made.
The acquisition of one of the world's biggest white-goods manufacturers would significantly boost Bosch's home appliance business at a time when competition with Asian rivals is growing.
Also read: UltraTech to buy 23% stake in India Cements for Rs 1,885 crore
A deal for Whirlpool, whose brands include Ariston, Hotpoint, Ignis and Privileg, would rank amongst the biggest disclosed deals for the German industrial group.
Bosch CEO Stefan Hartung told German business daily Handelsblatt in May that the company was looking at a few bigger acquisition targets, and that it did not rule out entering a new business area or a global deal.
Additionally, in the month of June, Hartung told reporters that the group was open to listing some of its divisions on the stock market as it explores financing options for deals. He did not say which divisions.
Whirlpool Corporation is an American multinational manufacturer and marketer of home appliances and the company’s brand portfolio includes brands such as Whirlpool, KitchenAid, JennAir, Maytag, Amana,
