Robert Bosch LLC, a German engineering company, is thinking about buying appliance manufacturer Whirlpool Corp.
Reuters reported that Bosch has been talking to potential advisers about making an offer to buy Whirlpool, based in Benton Harbor Mich., which would strengthen its position in the household appliance market.
Nothing was written in stone, according to the Reuters report. Whirlpool, which has struggled with falling appliance demand tied to sluggish home sales. In the first quarter, sales of large appliances in North America fell 8.1% year over year, the Detroit News reported.
In an email to The News, Whirlpool declined to comment, the paper reported, saying, “As a matter of policy, we do not comment on market rumors or speculation.”
Bosch also wouldn’t comment.
Whirlpool’s stock closed up 17.1% Wednesday to $101.91 per share. It’s down 17% this year, according to The News’ report.
