Thu, Mar. 3, 5:05 PM
- General Electric (NYSE:GE) says its proposed $5.4B sale of its appliance business to China's Haier Group (OTCPK:HRELF) received approval from U.S. antitrust authorities.
- The Justice Department approval comes after it sued last year to block GE's plan to sell the appliance business to Sweden's Electrolux.
- The GE-Haier deal may still face other U.S. regulatory reviews and must be approved by Haier shareholders; Haier has said it would pay a $200M-$400M breakup fee if the deal is blocked.
Currently, there's no company description for HRELF.
Industry: Telecom Services - Domestic