US wants to block merger
NEW YORK- The feds sued to stop Electrolux from buying General Electric's appliance division, claiming the new company would dominate the sales of home appliances to builders, property managers and governments, not individual consumers.
GE says it intends to fight back and wants the $3.3 billion deal to go through. The U.S. Department of Justice says GE and Electrolux have been competing for decades and claims the combined company would eliminate a major competitor if it buys the GE division, leaving Electrolux and Whirlpool as the only major companies selling appliances. Electrolux owns the Frigidaire brand.
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