The Traderszone Network

Published in TZ Latest News 7 December, 2015 by The TZ Newswire Staff

Electrolux’s $3.3 billion acquisition of GE Appliances falls through

Sweden’s Electrolux (ELUXb.ST) said on Monday its deal to buy General Electric’s (GE.N) appliance business had fallen through after GE terminated the $3.3 billion agreement. The U.S. Department of Justice asked a federal court in July to stop Electrolux, which makes Frigidaire, Kenmore and Tappan appliances, from buying GE’s appliance business and has said the deal would push prices up by five percent.

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