Complaint : U. S. V. AB Electrolux, Et
Case 1:15-cv-01039 Document 1 Filed 07/01/15 Page 1 of 15 UNITED STATES DISTRICT COURT FOR THE DISTRICT OF COLUMBIA UNITED STATES OF AMERICA, U.S. Department of Justice, Antitrust Division, 450 Fifth Street NW, Suite 4000, Washington, DC 20530, Plaintiff, v. AB ELECTROLUX, S:t Goransgatan 143, Stockholm, Sweden 10545, ELECTROLUX NORTH AMERICA, INC., 10200 David Taylor Drive, Charlotte, NC 28262, and GENERAL ELECTRIC COMPANY, 3135 Easton Turnpike, Fairfield, CT 06828, Defendants. COMPLAINT The United States of America, acting under the direction of the Attorney General of the United States, brings this civil action to enjoin the proposed acquisition by Defendants AB Electrolux and Electrolux North America, Inc. (collectively “Electrolux”) of Defendant General Electric Company’s assets relating to its appliance business unit. The United States alleges as follows: Case 1:15-cv-01039 Document 1 Filed 07/01/15 Page 2 of 15 I. INTRODUCTION 1. General Electric and Electrolux, which owns the “Frigidaire” brand, have long competed to sell major cooking appliances (ranges, cooktops, and wall ovens), which are an essential part of the American household and among consumers’ most significant purchases. Electrolux, through the proposed acquisition, would stop that competition and take out an important rival in General Electric. If not enjoined, the proposed acquisition would combine two of the leading suppliers of major cooking appliances sold in the United States. The result likely would be less competition, higher prices, and fewer options for millions of Americans who buy major cooking appliances each year. 2. The proposed acquisition would create a duopoly in the supply of major cooking appliances to American home builders, property managers, and other contract-channel appliance purchasers.
[Show full text]