Deals
Electrolux Drops After GE Pulls $3.3 Billion Appliance Deal
- GE says it's entitled to a break-up fee of $175 million
- Electrolux says quarterly results to be hit by deal costs
GE Abandons Plans for $3.3 Billion Electrolux Deal
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Electrolux AB fell the most in more than four years after General Electric Co. abandoned plans to sell its appliance business to the Swedish manufacturer for about $3.3 billion because of opposition from U.S. antitrust regulators.
“The worst possible outcome became a reality,” DNB Bank ASA analysts including Christer Magnergard wrote in a note published Monday. “Electrolux can no longer pursue what would have been the largest transaction in its history -- a significant loss for the company.”