Whirlpool shares climb premarket as Germany’s Bosch reportedly eyes possible bid

Investing.com — Shares in Whirlpool (NYSE:) jumped in premarket U.S. trading on Wednesday after Reuters reported that German engineering group Robert Bosch is considering a takeover bid for the appliances maker.

Citing three people familiar with the matter, Reuters said it remained uncertain if an offer would be put forward.

Reuters added that one of the sources said Bosch has been speaking with possible advisors about potentially unveiling an offer for Whirlpool. The U.S.-based firm known for its washing machines and refrigerators currently has a market capitalization of just under $4.8 billion.

The possible bid would come at a time when Bosch is facing growing competition from Asian rivals in its home appliances segment. Whirlpool, meanwhile, is in the midst of a sweeping operational overhaul that has seen the owner of brands like KitchenAid and Maytag offload its Middle Eastern and African units.

Whirlpool peer Electrolux’s (ST:) stock price rose in European trading following Reuters’ report.