According to an announcement made on Monday morning – General Electric has reportedly terminated its plan to sell the appliance division to Electrolux of Sweden.

The proposed $3.3 billion dollar deal was challenged by the U.S. Department of Justice in an anti-trust lawsuit, claiming that, that merger would have created a monopoly in the sale of kitchen appliances in the U.S.

GE and Electrolux combined sales would have topped all competitors.

In Monday’s statement, GE stated that they (quote) “would be going in a different direction regarding the sale of the appliance division, which includes the Roper plant in Lafayette…” (end-quote)

The company added that the appliance business is performing well and GE will continue to run the business while it pursues a sale.

(WQCH)