German engineering group Robert Bosch GmbH is considering the option of submitting a takeover offer for US home appliances manufacturer Whirlpool Corporation (NYSE:WHR), Reuters reported on June 26, 2024. The German company has approached advisors over the potential bid. A final decision, however, has not been made yet.

Following the report, Whirlpool shares closed 17.1% higher at USD 101.91 in New York on June 26, 2024. As of June 27, 2024, the company?s market capitalization stood at USD 5.57 billion (EUR 5.21 billion). The report comes soon after Bosch CEO Stefan Hartung said at a conference earlier in June that the German company is pursuing acquisitions in the USA as a way to diversify its operations.

Hartung believes that Bosch does not have sufficient presence in the country and has to increase its local footprint and performance.