Justice Department approves GE/Haier deal.
The proposed $US5.4 billion ($7.3 billion) sale of General Electric’s appliance business to Haier Group has been given the go ahead from US antitrust authorities.
“The completion of the review is an important step towards closing the transaction, which GE continues to target for mid-2016,” GE spokesman Seth Martin said.
However, the GE/Haier deal may face other US regulatory reviews and the deal must be approved by Haier shareholders.
Haier has said it would pay a break-up fee of between $US200 million ($269 million) and $US400 million ($538 million) if the deal were blocked by regulators or voted down by shareholders.