The Traderszone Network

Published in TZ Latest News 1 July, 2015 by The TZ Newswire Staff

U.S. sues to stop Electrolux acquiring GE’s appliance business

The United States filed a lawsuit on Wednesday to stop Sweden’s Electrolux AB (ELUXb.ST), which owns the Frigidaire, Kenmore and Tappan brands, from buying General Electric Co’s (GE.N) appliance business, the Justice Department said in a statement. Whirlpool Corp (WHR.N), which bought Maytag in 2006, is the third. Electrolux shares traded in the U.S. (ELUXY.PK) on the OTC Pink market fell 9.3 percent, with more than 40,000 shares exchanged.