Shares of Whirlpool India surged more than 9 percent on June 27 after it was reported that German engineering group Robert Bosch is considering a bid for the US appliances manufacturer.
The stock price was trading 9.34 percent higher at Rs 2,008.6 on NSE at 11:02 am.
The move will help Bosch strengthen its position in the household appliances market at a time when the competition with Asian rivals is heating up, Reuters reported on June 26.
According to the report, the German company has been discussing the possibility of making an offer for Whirlpool, which has a market capitalisation of around $4.8 billion.
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.
Earlier this year, Whirlpool sold 24 percent stake in its Indian arm for $468 million. The sale was conducted through its subsidiary in Mauritius and brought its stake in the entity down from 75 percent to 51 percent, Reuters had reported in February.
The stake was picked up by SBI Mutual Fund, Societe Generale, Nippon India Mutual Fund and three others at Rs 1,277 apiece, according to bulk deal data from the BSE.
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