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Electrolux Chief Dusts Off M&A Plan B After Deal With GE Fails

  • Chief says company has the balance sheet to do acquisitions
  • Review of Electrolux's other takeover targets will be made
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GE Abandons Plans for $3.3 Billion Electrolux Deal

Electrolux AB, foiled by antitrust regulators in its bid to expand in the U.S. by buying General Electric Co.’s appliance business, will now turn its attention to unearthing potential acquisitions in Latin America and other emerging markets.

GE’s decision to walk away from the $3.3 billion sale because of opposition from the Justice Department leaves Electrolux with few opportunities in the U.S. The Stockholm-based company typically monitors dozens of targets, and those opportunities will now be reviewed as Electrolux looks to add cleaning technology and expand in the Americas and other developing regions, where it’s underrepresented, Chief Executive Officer Keith McLoughlin said Monday.