GE has scrapped a $3.3 billion plan to sell its home appliance business to the Swedish company Electrolux, a deal opposed by US regulators over concerns about competition.
The Fairfield, Connecticut, conglomerate said that it will continue to run the business as it looks for other options to sell it.
General Electric Co. offered no reason for its decision in a brief statement released Monday.
Electrolux is the world’s second-biggest home appliance maker after US rival Whirlpool. The Stockholm-based company sells most of its products in the US under the Frigidaire brand.
The US Department of Justice had sued to stop the deal in July, saying the combined company would dominate sales of ovens and other cooking-related kitchen appliances, especially to customers like home builders, property managers, hotels, and governments.
Electrolux said Monday that it “regrets that GE has terminated the agreement while the court procedure is still pending.”
Full content: BBC
Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.
Featured News
DOJ Antitrust Division to Skip ABA Spring Events After Lawsuit Over Foreign Aid Payments
Mar 24, 2025 by
CPI
Lawmakers Urge European Commission to Accelerate Investment in AI Chip
Mar 24, 2025 by
CPI
O’Melveny Expands M&A Team with Veteran Tech Deal-Maker
Mar 24, 2025 by
CPI
Italian Competition Authority Probes Alleged Antitrust Violations in Rail Sector
Mar 24, 2025 by
CPI
BlackRock, Vanguard, and State Street Seek Dismissal of Texas Antitrust Suit
Mar 24, 2025 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – Mobile Ecosystems
Mar 24, 2025 by
CPI
Mobile Ecosystems: An Intellectual Entelechy but A Necessary Model
Mar 24, 2025 by
Alba Ribera Martinez
Creating Contestability and Fairness in Mobile Ecosystems: The Contribution of the DMA
Mar 24, 2025 by
Damien Geradin & Daniel Mandrescu
Digital Ecosystems and the Not (Yet) As Efficient Competitor Principle
Mar 24, 2025 by
Thomas Hoppner & Philipp Westerhoff
Assessing the Competition Law Scrutiny of Smart Wearables and Mobile AR/VR Devices
Mar 24, 2025 by
Kayvan Hazemi-Jebelli