GE Says $3.3B Electrolux Deal Needed To Beat LG, Samsung

Law360, Washington (November 18, 2015, 8:57 PM EST) -- The CEO of General Electric’s appliance unit told a D.C. federal judge Wednesday that the pace of Samsung and LG Electronics’ appliance innovations “keep me up at night,” maintaining they would continue to battle after GE’s $3.3 billion merger with Electrolux despite government concerns about lessened competition.

Testifying in the bench trial of the government’s suit to block the merger, GE Appliances CEO Chip Blankenship said more than $1 billion in investments in plants and new products has not kept up with the pace of new...
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