Report: Electrolux offers to settle with government over GE Appl - WDRB 41 Louisville News

Report: Electrolux offers to settle with government over GE Appliances sale

Posted: Updated:
Dryer assembly line at GE Appliance Park in Louisville Dryer assembly line at GE Appliance Park in Louisville

LOUISVILLE, Ky. (WDRB) -- Electrolux lawyers have offered to settle a dispute with the U.S. Justice Department over the company's planned acquisition of General Electric's Louisville-based appliance division, according to a report by Reuters.

But the Justice Department's attorney said the two sides remain far apart, according to the report, which cites comments made at a court hearing Wednesday in Washington, D.C.

The government and Electrolux -- along with GE -- are racing through subpoenas and document production in preparation for a Nov. 9 trial before U.S. District Judge Emmett Sullivan. The trial is being fast-tracked so Electrolux and GE can close the sale before the end of the year as projected, assuming a favorable outcome. 

The Justice Department sued on July 1 to block sale on antitrust grounds. The government claims the combination would drive up the price of cooking appliances sold to volume buyers like home builders and property managers.

Electrolux's lawyers have said the government fails to consider the role of recent entrants to the appliance market like Samsung and LG, among other criticisms. 

GE's appliance division is one of Louisville's most important employers. Some 3,800 hourly employees work at Appliance Park, and the division employs an additional 2,200 white-collar workers. 

RELATED:

Feds sue to block GE-Electrolux deal

Electrolux promises $50 million more in savings from GE deal

SUNDAY EDITION | Electrolux has history of moving work to lower-wage factories

News analysis | For Louisville, lots of unanswered questions in GE, Electrolux deal

  • Sign Up for WDRB's Sports Newsletter

    * denotes required fields

    Thank you for signing up! You will receive a confirmation email shortly.
  • Stories by Chris OttsMore>>

  • Humana updates policy on executive payouts after sale, merger of company

    Humana updates policy on executive payouts after sale, merger of company

    Wednesday, November 22 2017 5:43 PM EST2017-11-22 22:43:08 GMT
    Louisville-based Humana has updated its "change in control" policy.Louisville-based Humana has updated its "change in control" policy.

    Louisville-based Humana Inc. has updated its “change in control” policy entitling high-level executives to severance payments if they are demoted or laid off following a sale or merger of the company. Humana disclosed the change in an SEC filing late on Wednesday.

    More >>

    Louisville-based Humana Inc. has updated its “change in control” policy entitling high-level executives to severance payments if they are demoted or laid off following a sale or merger of the company. Humana disclosed the change in an SEC filing late on Wednesday.

    More >>
  • University of Louisville board chairman committed to 'closed' search for next president

    University of Louisville board chairman committed to 'closed' search for next president

    Monday, November 20 2017 5:24 PM EST2017-11-20 22:24:54 GMT
    U of L trustees chairman David Grissom, right, and interim President Greg Postel. Nov. 20, 2017U of L trustees chairman David Grissom, right, and interim President Greg Postel. Nov. 20, 2017

    The chairman of the University of Louisville board of trustees said the board is committed to conducting a “closed” search in which finalists for the next president of the university will not be made public -- over the objection of many faculty and staff members and students.

    More >>

    The chairman of the University of Louisville board of trustees said the board is committed to conducting a “closed” search in which finalists for the next president of the university will not be made public -- over the objection of many faculty and staff members and students.

    More >>
  • Beshear: Too soon to say whether taxpayer-funded aluminum company is a 'public agency'

    Beshear: Too soon to say whether taxpayer-funded aluminum company is a 'public agency'

    Monday, November 20 2017 10:58 AM EST2017-11-20 15:58:30 GMT
    Craig Bouchard, CEO of Braidy Industries Inc., speaks to the Louisville Rotary Club on Nov. 9, 2017.Craig Bouchard, CEO of Braidy Industries Inc., speaks to the Louisville Rotary Club on Nov. 9, 2017.

    It’s too soon to determine whether Braidy Industries, the aluminum manufacturing company in which Kentucky taxpayers are a big shareholder, is a “public agency” that must disclose its records like state and local government.

    More >>

    It’s too soon to determine whether Braidy Industries, the aluminum manufacturing company in which Kentucky taxpayers are a big shareholder, is a “public agency” that must disclose its records like state and local government.

    More >>
Powered by Frankly
All content © Copyright 2000 - 2017 WDRB. All Rights Reserved. For more information on this site, please read our Privacy Policy, and Terms of Service, and Ad Choices.