Nov. 5, 2015, 11:09 AM
- The Department of Justice is pressuring Electrolux (OTCPK:ELUXY) to divest its entire U.S. business, according to Bloomberg.
- The Swedish company plans to go to court in defense of the effort to buy GE's (GE -0.6%) appliances business. A lawyer for Electrolux says settlement talks with the DOJ have ended.
- Electrolux ADRs are down 2.5%, while home appliance giant Whirlpool (NYSE:WHR) is down 2.2%.
Apr. 8, 2015, 11:00 AM
- Shares of Whirlpool (NYSE:WHR) are down 1.8% after rival Electrolux (OTC:ELUXF, OTCPK:ELUXY) warns on results in North America.
- The Swedish appliance seller expects to post a loss in Q1 due in part to costs tied to energy regulations.
- "Electrolux operations continue to be negatively impacted by the transition of the product ranges within refrigeration and freezers," reads the company's statement.
- Electrolux will release full Q1 results on April 24.
- Shares of Electrolux ADRs have fallen 7.7%.
- Electrolux update on North American operations
Electrolux is a global leader in household appliances and appliances for professional use, selling more than 40 million products to customers in more than 150 markets every year.<br /><br />The company focuses on innovations that are thoughtfully designed, based on extensive consumer insight, to... More
Sector: Consumer Goods
Industry: Department Stores
Other News & PR