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GE Terminates Agreement to Sell Appliances Business to Electrolux; GE to Receive $175M Breakup Fee

Courtesy of Benzinga.

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GE (NYSE: GE) announced today it has terminated its agreement to sell its
Appliances business to Electrolux (OTC: ELUXY) and will now pursue other options to
sell the Appliances business.

GE is entitled to a break-up fee of $175 million from Electrolux. The
Appliances business is performing well and GE will continue to run the
business while it pursues a sale.

About GE

GE (NYSE: GE) is the world’s Digital Industrial Company, transforming
industry with software-defined machines and solutions that
are connected, responsive and predictive. GE is organized around a
global exchange of knowledge, the “GE Store,” through which each
business shares and accesses the same technology, markets, structure and

See full press release


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