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.
Featured News
Redfin Settles $9.2M Commission Inflation Lawsuits
May 7, 2024 by
CPI
DOJ Supports Colorado’s Efforts to Block Kroger-Albertsons Merger
May 7, 2024 by
CPI
Japan Considers Regulation of AI Developers
May 7, 2024 by
CPI
European Commission Extends Decision Deadline for Ita-Lufthansa Merger
May 7, 2024 by
CPI
UK, US and Australia Sanction Senior Leader of LockBit Cybercrime Gang
May 7, 2024 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – Economics of Criminal Antitrust
Apr 19, 2024 by
CPI
Navigating Economic Expert Work in Criminal Antitrust Litigation
Apr 19, 2024 by
CPI
The Increased Importance of Economics in Cartel Cases
Apr 19, 2024 by
CPI
A Law and Economics Analysis of the Antitrust Treatment of Physician Collective Price Agreements
Apr 19, 2024 by
CPI
Information Exchange In Criminal Antitrust Cases: How Economic Testimony Can Tip The Scales
Apr 19, 2024 by
CPI