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

GE (NYSE:

) announced today it has terminated its agreement to sell its Appliances business to Electrolux (OTC:

) 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:

) 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