Electrolux says it has ‘package’ to resolve GE merger suit

Electrolux AB has put together a package of assets to be sold that could resolve a U.S. lawsuit seeking to block its purchase of General Electric Co.’s appliance business, an Electrolux lawyer said at a court hearing.

“We have made significant progress,” John Majoras, a lawyer at Jones Day, said Wednesday in federal court in Washington. “There’s a package that’s been put out to bid.”

The Justice Department’s antitrust division, which claims the acquisition threatens to raise prices for consumers, said in July that the Swedish company could settle the lawsuit by divesting assets. The case is scheduled to go to trial beginning Nov. 9.

Ethan Glass, a Justice Department lawyer, said at the hearing that the government has yet to see a proposal. The government will need time to analyze whether a proposed settlement will replace lost competition, he said.

“It’s no simple feat,” Glass said.

Majoras said the companies would present the proposal to the government as soon as they can.

Electrolux has its North American headquarters in Charlotte.

This story was originally published October 15, 2015 at 6:13 PM with the headline "Electrolux says it has ‘package’ to resolve GE merger suit."