WASHINGTON (CN) – The Department of Justice Antitrust Division sued Electrolux to block its acquisition of General Electric’s appliance business, saying the $3.3 billion deal will restrain competition in ovens.
Electrolux owns its own brand as well as Frigidaire and Tappan. Its U.S. division sells about $2.6 billion of major appliances a year, the Justice Department. Electrolux North America is a wholly owned subsidiary of AB Electrolux, of Sweden.
General Electric sells about $3.4 billion of major appliances a year. It brands include GE, Hotpoint and Artistry.
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