China's Haier buys GE's appliance unit for $5.4 billion

[amoy]

China's Haier buys GE's appliance unit for $5.4 billion
by Charles Riley @CRrileyCNNJanuary 15, 2016: 3:47 AM ET

General Electric has sold its appliance business to Haier for $5.4 billion, a deal that will greatly expand the Chinese firm's footprint in the U.S.

Haier is best known as a manufacturer of household goods including washing machines, refrigerators and microwaves. In recent years, it has sought to expand into new international markets, including the U.S.

The sale has been approved by the boards of both companies, GE(GE) said.

Haier said GE's appliance division will remain headquartered in Louisville, Kentucky.

GE had previously agreed to sell the business to Sweden's Electrolux (ELUXY), but the deal was abandoned after regulators raised antitrust concerns.

Earlier this week, GE announced it was moving its corporate headquarters from Connecticut to Boston, Massachusetts.

http://money.cnn.com/2016/01/15/investing/ge-haier-appliances-sale/index.html

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[amoy]

Philips $2.8 bn stake sale in Lumileds blocked over US objections

AMSTERDAM - Dutch electronics giant Royal Philips said Friday that it has terminated the planned $2.8 billion sale of most of its lighting components and automotive-lighting unit to a Chinese investor, after US regulatory objections.

The agreement to sell an 80 percent stake in the Lumileds division based in California ran into opposition from the Committee on Foreign Investment in the United States (CFIUS) on national-security grounds, Philips said in a statemen

http://www.bignewsnetwork.com/news/...e-sale-in-lumileds-blocked-over-us-objections

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Is it ridiculous - a lighting equipment producer becomes a concern of national security?

Less and less confident Americans, pathetic.

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