A PYMNTS Company

US: Electrolux-GE Antitrust case heats up

 |  December 3, 2015

A Home Depot executive testified Wednesday in favor of Electrolux AB’s planned acquisition of General ElectricCo.’s appliance business during occasionally contentious proceedings in a government antitrust case reports the Wall Street Journal.

Bob Baird, a Home Depot vice president for merchandising, said the transaction would help a post-acquisition Electrolux “get more innovative” and “compete on a better level” with such other appliance makers as Whirlpool Corp., LG Electronics Inc. and Samsung Electronics Co.

The Electrolux deal makes particular sense given GE’s stated interest in exiting the appliance business, Mr. Baird said. He was testifying in the Justice Department’s antitrust challenge to the Electrolux-GE deal.

Mr. Baird said Home Depot tries to push back when manufacturers try to raise prices. He also said Electrolux was hemmed in by LG and Samsung, brands that he said were more popular with consumers. Electrolux must sell similar products more cheaply than its South Korean rivals to win customers, he said.

Full content: The Wall Street Journal

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