DOJ Tries To Stop Electrolux/GE Deal
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CHARLOTTE, NC —Β 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. Β It says the $3.3 billion deal will get rid of competition and hurt consumers. Β 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. Β It’s still awaiting approval in a few Latin American countries.
