A PYMNTS Company

US: DoJ lawyers oppose GE unit’s sale to Electrolux

 |  July 1, 2015

US Justice Department antitrust lawyers have opposed Electrolux AB’s plan to buy General Electric Co’s household appliance business, a source familiar with the investigation told Reuters.

Lawyers have disapproved of the $3.3 billion deal as proposed, the source said. The decision to file a lawsuit to block the deal ultimately rests with senior officials in the antitrust division.

Electrolux declined to comment, and the DOJ and GE were not immediately available for a comment.

Sweden’s Electrolux agreed to buy GE’s century-old appliance business in September. The deal would double Electrolux’s U.S. sales, putting it on a par with larger rival Whirlpool Corp.

“Electrolux and GE continue to work actively with the Department of Justice to endeavor to resolve the remaining items in the clearance process, with the goal of closing the deal in 2015,” GE said on Tuesday.

Full content: Business Insider

Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.