WHR - Why Whirlpool Stock Is Up Big Today
2024-06-26 12:29:03 ET
Whirlpool (NYSE: WHR) is reportedly a potential acquisition target for a German industrial conglomerate.
Shares of the U.S. appliance maker traded up as much as 19% on Wednesday, and were up 15% as of 11 a.m. based on speculation that a potential offer with a premium could appear.
Whirlpool is one of the largest manufacturers of home appliances based in the United States, with a business increasingly under pressure from foreign rivals. In recent years, the company has divested its Middle Eastern and African operations and formed a joint venture to manage its European business, part of a plan to conserve cash and fight off competition in its home markets.
For further details see:
Why Whirlpool Stock Is Up Big Today