Electrolux to Boost U.S. Presence With $3.3 Billion General Electric Appliances Buy
Sweden’s Electrolux (eluxb.st) said on Monday it would buy General Electric Co’s (GE.N) appliances business for $3.3 billion in cash to double sales in North America and take on rival Whirlpool Corp (WHR.N) in its biggest ever deal.
Electrolux said in August it was in talks to buy the unit to tap into a market where it has lacked scale and that is growing faster than Europe.
Reuters reported earlier this month a deal was near completion.