Shares of Whirlpool (NYSE:WHR) surged more than 18% intra-day today following a report from Reuters indicating that German engineering group Robert Bosch is contemplating a takeover bid for the appliance manufacturer.

According to three sources familiar with the situation, it is still uncertain whether Bosch will proceed with an offer. One source mentioned that Bosch has been consulting with potential advisors about the possibility of making a bid. Whirlpool, known for its washing machines and refrigerators, currently has a market capitalization just below $4.8 billion.

This potential bid emerges as Bosch faces increasing competition from Asian companies in the home appliances market. At the same time, Whirlpool is undergoing a significant operational restructuring, having recently divested its Middle Eastern and African business units. The company owns well-known brands such as KitchenAid and Maytag.