Standard Electric has announced that it has decided to cancel the agreement to promote its appliance division for the Swedish group Electrolux which had offered last year to buy it regarding $US3. 3 billion ($A4. 50 billion).
Electrolux, which has been counting the deal to bulk up its presence in The united states notably against US. rival Whirlpool Corp. WHR, +1. 64% said it regretted GE’s decision to vanish from the deal whilst antitrust proceedings were nonetheless underway.
The proposed order was announced on Sept 8, 2014. On Come july 1st 1, 2015, the Department of Proper rights sued Electrolux and General Electric to stop the proposed acquisition.
Electrolux, which has been counting the deal to bulk up its presence in The united states notably against US. rival Whirlpool Corp. WHR, +1. 64% said it regretted GE’s decision to vanish from the deal whilst antitrust proceedings were nonetheless underway.
The proposed order was announced on Sept 8, 2014. On Come july 1st 1, 2015, the Department of Proper rights sued Electrolux and General Electric to stop the proposed acquisition.
