Whirlpool Corporation (NYSE:WHR), the US home appliance group, rose 20% in premarket trading today after it was revealed that German rival Bosch was considering a takeover bid.
Rober Bosch GmbH is said to have been looking for acquisitions to help boost its large home appliance unit and opened talks with advisors over whether to make a bid, according to reports from Reuters.
Competition from Chinese rivals has been growing in recent times and buying Whirlpool, one of the world's largest white-goods manufacturers, could help Bosch strengthen its home appliance division.
Whirpool has undergone a restructuring process in recent years, which saw it offload its European business and divest from its ventures in Africa and the Middle East.