The stock of Whirlpool (WHR) is up 18% on media reports that German engineering firm Bosch is considering making a takeover offer for the appliance manufacturer.
The Reuters news agency was first to report that Bosch is considering making a bid to acquire Whirlpool. However, no deal has been publicly announced.
It is not clear how much Bosch would pay for Whirlpool, which has a market capitalization of $4.75 billion U.S.
A potential takeover comes as Bosch, the world's biggest automotive supplier, is relying on acquisitions to grow its business.
Whirlpool has undergone a major restructuring in recent years, offloading its businesses in Europe, the Middle East and Africa so that it can concentrate on the North American market.
At an Investor Day presentation in February of this year, Whirlpool set a goal of a 10% margin in 2026 based on earnings growth of greater than 6%.
Before today (June 26), the stock of Whirlpool had declined 39% over the past 12 months and was trading at $87.03 U.S. per share.
