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.
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