Exclusive: Electrolux Near $2.5 Billion-plus Deal To Buy GE Unit – Sources
Sweden’s Electrolux AB is near a deal to buy General Electric’s iconic appliance business for more than $2.5 billion, in a move that would significantly expand its reach in North America. Shares of Electrolux jumped on news of a possible deal, rising 4.73 percent to 190.40 Swedish crowns and giving it a market capitalization of more than $8 billion. GE’s century-old household appliance business, which along with lighting generated $8.3 billion in 2013 revenue, could help the Swedish appliance manufacturer expand beyond its core European market where growth has trailed that in North America.
“Exclusive: Electrolux Near $2.5 Billion-plus Deal To Buy GE Unit – Sources” is categorized as “business”. This video was licensed from Grab Networks. For additional video content, click the “video” tab at the top of this page.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.