Exclusive-Bosch eyes offer for appliance maker Whirlpool, sources say

FILE PHOTO: A view shows a sign of the German company BOSCH during an event a day ahead of the official opening of the 2023 Munich Auto Show IAA Mobility, in Munich, Germany, September 4, 2023. REUTERS/Leonhard Simon/File Photo

By Anirban Sen and Emma-Victoria Farr

(Reuters) - German engineering group Robert Bosch GmbH is weighing a bid for U.S. appliances manufacturer Whirlpool, 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 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)