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  • Editor’s Picks / 07 December 2015 at 10:52 GMT

    GE pulls the plug on Electrolux deal

    General Electric has pulled the plug on the sale of its appliance division to Sweden’s Electrolux AB. The $3.3 billion deal was under scrutiny from the US Department of Justice on antitrust grounds, although no official decision had been reached at the time of the deal's cancellation. "Electrolux has made extensive efforts to obtain regulatory approvals and regrets that GE has terminated the agreement while the court procedure is pending," said a spokesperson for the Stockholm-based firm. Shares of Electrolux are currently down by over 12% on the Swedish exchange.
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  • 4y
    Johan Berntorp Johan Berntorp
    The gap was almost closed yesterday before a reversal took place. One could move the stop to entry not to risk losing from a setup that started...
  • Editor’s Picks / 02 July 2015 at 9:04 GMT

    US government sues to block GE deal

    The Wall Street Journal
    The US Justice Department has sued to prevent General Electric from selling its appliance business to Electrolux for $3.3 billion. The government's concern over the deal relates to antitrust law, as the sale would bring two large-scale, competing lines under one corporate umbrella. The deal was meant to offload GE's underperforming appliances division to Sweden's Electrolux but the Justice Department's complaint alleges that the sale would lead to “less competition, higher prices and fewer options for millions of Americans”. Electrolux, for its part, maintains that the deal would be a boon for the US consumer as it would allow the Stockholm-based firm to better compete with giants like LG and Samsung.
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  • Squawk / 16 October 2014 at 9:10 GMT
    Head of Commodity Strategy / Saxo Bank
    Biggest movers and most active stocks in Europe today
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  • Squawk / 08 September 2014 at 13:20 GMT
    Senior Equity Trader / Saxo Bank
    General Eletric is unchanged in premarket after it announced the sell of its GE Appliances worth $3,3 billion to Eletrolux earlier today.
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