Electrolux purchase of GE appliance business falls through

Sweden's Electrolux today announced its deal to buy General Electric's appliance business has fallen through because GE terminated the $3.3 billion agreement.

In July, the U.S. Department of Justice asked a federal court to stop Electrolux from buying the business because it would push prices up by 5 percent.

"Electrolux has made extensive efforts to obtain regulatory approvals, and regrets that GE has terminated the agreement while the court procedure is still pending," Electrolux officials said in a statement.

Electrolux makes Frigidaire, Kenmore and Tappan appliances.

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