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Electrolux To Buy General Electric's Appliance Business

DAVID GREENE, HOST:

NPR's Business News begins with it's electric. Electrolux is buying General Electric's appliances business for over $3 billion in cash. By the way, it was 1905 when GE introduced their first electric toaster. In taking on GE appliances, which now include water heaters, refrigerators and air conditioners, Electrolux will more than double its home appliance sales in the United States. The deal is expected to close in 2015, but the iconic GE label that we all know won't fade away. As part of the agreement, Electrolux will continue using the GE appliances brand for that product line. Transcript provided by NPR, Copyright NPR.