US appliance-maker pulls plug on takeover amid justice department objections leaving Swedish firm’s plan to boost American presence in tatters
Electrolux’s $3.3bn deal to buy General Electric’s (GE) appliance business has fallen through, torpedoing the Swedish firm’s plan to bolster its US business and sending its shares down as much as 15%.
Announcing the deal with GE last year, the Swedish firm said its biggest ever acquisition would double its sales in the US and step up the challenge to Whirlpool in the world’s largest appliance market.
Continue reading...from Mergers and acquisitions | The Guardian http://ift.tt/1Ne6UYo
No comments:
Post a Comment