Bosch eyes offer for appliance maker Whirlpool, sources say

Arcelik

26/06/2024 11:16

By Anirban Sen and Emma-Victoria Farr
       June 26 (Reuters) - German engineering group Robert
Bosch GmbH is weighing a bid for U.S. appliances manufacturer
Whirlpool  WHR.N , according to three people familiar with the
matter, a move that would boost its position in the white goods
market. 
    Bosch has been talking to potential advisers about the
possibility of making an offer for Whirlpool, which has a market
capitalisation of about $4.8 billion, one of the sources said,
requesting anonymity as the discussions are confidential. 
    The sources said it was not certain that an offer would be
made and asked not to be identified because the matter is
confidential.  
    A Bosch spokesperson said the company does not comment on
"market rumours." Officials at Whirlpool were not immediately
available for comment. 
    Buying one of the world's biggest white-goods manufacturers
would significantly beef up Bosch's home appliance business at a
time when competition with Asian rivals is growing.  
    Whirlpool has been undergoing a major restructuring in
recent years, which has seen it fold its European business into
a new company controlled by Turkish rival Arcelik  ARCLK.IS  and
divest its Middle Eastern and African businesses.

 (Reporting by Anirban Sen in New York and Emma-Victoria Farr in
Frankfurt. Additional reporting by Josephine Mason. Editing by
Elisa Martinuzzi and Mark Potter)
 ((Anirban.Sen@thomsonreuters.com; Twitter: @asenjourno; Reuters
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