Whirlpool (NYSE:WHR) stock is rising higher on Wednesday as reports claim that Bosch is considering a takeover offer for the appliances company.
According to reports, Bosch is in talks with advisors about making a bid for Whirlpool. The insiders claim there’s no guarantee of a deal. Both Whirlpool and Bosch refuse to comment on market rumors.
A deal for Whirlpool could come in quite high considering its market capitalization of $4.8 billion. It would also be a major benefit to Bosch by beefing up its home appliances sector. This follows comments from Bosch CEO Stefan Hartung in May that it was considering larger acquisition targets, Reuters notes.
How This Affects WHR Stock Today
With this news comes an increased interest in WHR stock. This also brings with it heavy trading of the company’s shares. As of this writing, more than 4.7 million shares have changed hands. That’s well above its daily average trading volume of about 1.4 million shares.
WHR stock is up 11.8% as of Wednesday morning. However, the company’s shares are still down 20.9% since the start of the year.
Investors seeking out even more of the most recent stock market stories for today are going to want to stick around!
We are offering up insight into all of the biggest stock market news that traders need to know about on Wednesday! A few examples include what’s happening with shares of Chipotle Mexican Grill (NYSE:CMG), Rivian Automotive (NASDAQ:RIVN) and Nvidia (NASDAQ:NVDA) stock today. All of this info is ready to go at the links below!
More Stock Market News for Wednesday
- Chipotle (CMG) Stock Starts Trading on a Split-Adjusted Basis Today
- Cantor Fitzgerald Just Raised Its Price Target on Rivian (RIVN) Stock
- Citi Just Raised Its Price Target on Nvidia (NVDA) Stock
On the date of publication, William White did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
