DOJ Tries To Stop Electrolux/GE Deal
[gtxvideo vid=”zgl06x78″ playlist=”” pid=”Bbt3TRDe” thumb=”http://player.gtxcel.com/thumbs/zgl06x78.jpg” vtitle=”electrolux”]
CHARLOTTE, NC — Electrolux says it will fight the federal government’s attempt to stop it from buying General Electric’s appliance business.
The U.S. Justice Department filed an anti-trust lawsuit Wednesday. It says the $3.3 billion deal will get rid of competition and hurt consumers. Electrolux, which is expanding its North American headquarters in Charlotte, announced the deal in September.
In a statement to WCCB Charlotte, the company’s president says: “Electrolux believes the acquisition will increase competition and provide consumers access to a greater choice of high quality products at a wider range of competitive prices.”
Electrolux says it has already received regulatory approval for the deal in Brazil, Canada and Ecuador. It’s still awaiting approval in a few Latin American countries.