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GE to Sell Appliances Unit to China's Haier for $5.4 Billion
bloomberg.com
General Electric Co. agreed to sell its home-appliances business to China’s Qingdao Haier Co. for $5.4 billion after scrapping a deal with Electrolux AB last month.
The new pact’s premium over the $3.3 billion failed Electrolux agreement was driven in part by GE’s investment in the century-old unit to make it more competitive, said Chip Blankenship, chief executive officer of GE Appliances.
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