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.
Categories / Uncategorized
Subscribe to Closing Arguments
Sign up for new weekly newsletter Closing Arguments to get the latest about ongoing trials, major litigation and hot cases and rulings in courthouses around the U.S. and the world.