The Traderszone Network

Published in TZ Latest News 2 July, 2015 by The TZ Newswire Staff

Electrolux CEO seeks to rescue GE deal after legal blow

Buying only parts of the GE Appliances business would not make sense, the head of Sweden’s Electrolux (ELUXb.ST) said on Thursday, fighting to salvage a $3.3 billion deal after the United States moved to block it. The U.S. Justice Department filed a lawsuit on Wednesday to stop the Swedish company from buying General Electric Co’s (GE.N) appliance unit, saying a deal that has underpinned gains in Electrolux shares since it was announced last September would hurt competition.

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