Haier Group said it would buy General Electric appliance business for $5.4 billion, the Chinese company’s latest attempt to boost its presence in the lucrative United States market.
Haier, which made an abortive attempt in 2008 to buy the business, has a negligible presence in the US white goods market, dominated by Whirlpool, Sweden’s Electrolux and GE.
The news comes weeks after GE walked away from a deal to sell the business to Electrolux for $3.3 billion, following months of opposition from U.S. antitrust regulators.
The deal with Haier is unlikely to draw intense antitrust scrutiny, according to some antitrust experts, but may get a hard look from the Committee on Foreign Investment in the United States.
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
DirecTV and Disney Resolve Dispute, Restore Programming for Subscribers
Sep 15, 2024 by
CPI
UK Antitrust Authority Raises Concerns Over Vodafone-Three Merger
Sep 15, 2024 by
CPI
Brazilian Supreme Court Lifts Freeze on Starlink Accounts, Transfers $3.3 Million to National Treasury
Sep 15, 2024 by
CPI
Steptoe Expands Antitrust Practice with Key London Hire
Sep 15, 2024 by
CPI
Instant Ad Auctions at the Heart of Google’s Federal Monopoly Case
Sep 15, 2024 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – Canada & Mexico
Sep 3, 2024 by
CPI
Competitive Convergence: Mexico’s 30-Year Quest for Antitrust Parity with its Northern Neighbor
Sep 3, 2024 by
Francisco Javier Núñez Melgoza
Competition and Digital Markets in North America: A Comparative Study of Antitrust Investigations in Mexico and the United States
Sep 3, 2024 by
Julio Garcia
Recent Antitrust Development in Mexico: COFECE’s Preliminary Report on Amazon and Mercado Libre
Sep 3, 2024 by
Alejandra Palacios Prieto
The Cost of Making COFECE Disappear
Sep 3, 2024 by
Mateo Fernández