Deals
China’s Midea Said to Make Takeover Approach to Electrolux
- Midea approached $4 billion appliance maker in recent weeks
- Electrolux so far isn’t receptive to Chinese proposal: sources
Electrolux kitchen ranges at a store in Garner, North Carolina.
Photographer: Jim R. Bounds/Bloomberg
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Midea Group Co. is exploring a potential acquisition of Electrolux AB, according to people familiar with the matter, a bold move by the Chinese home appliance giant to add the higher-end luxury Swedish brand despite potential political opposition.
Midea made a preliminary approach in recent weeks to the white-goods manufacturer about a possible transaction, said the people, who asked not to be identified because discussions are private. Electrolux has so far not been receptive to the proposal, some of the people said.