Haier announced a deal buying GE's Appliance business.
Chinese Haier and General Electric announced today that Haier is buying GE's Appliance business. Haier is caughing up $5.4 billion for the GE unit.
Buy Now: Sony PlaysStation VR In Stock Here
GE has tried to sell the appliance business since a while, ran into antitrust issues. China's Haier seems to be ok for regulators as they are a small player in the United States says the Wall Street Journal.
With the purchase of the GE Appliance business, Haier will be suddenly in the top 3 appliance companies in the United States.
Don't Miss: The Best HDR TVs
Qingdao Haier Co., Ltd. was established in 1989. Haier America is a wholly owned subsidiary of the Haier Group. Haier employs more than 70,000 people around the world and distributes products in more than 100 countries and regions with global revenues reaching $32.1 billion in 2014.