This morning, GE announced the sale of its appliances unit to Chinese appliance manufacturer Haier for $5.4 billion -- nearly 64% more than what Electrolux had agreed to.
News & Analysis: Electrolux AB (ADR)
Is the failure of this appliances deal a temporary setback or a permanent headache for General Electric?
They negatively affected the industrial giant's otherwise positive year.
No. 5 in market share already, a rejected Electrolux could soon become wholly irrelevant.