LG eyeing bid for General Electric’s appliance arm

LG eyeing bid for General Electric’s appliance arm

LG Electronics is reportedly considering a bid for General Electric’s appliance business and is likely to hire an investment bank to advise on the deal.

LG chiefs are said to be preparing a detailed evaluation of the merits of a bid, and recently returned from a fact-finding mission to the US to study the potential acquisition.

There are reportedly a host of potential bidders across the globe with an interest in acquiring the GE operations, which could fetch up to £3.5bn.

LG last month announced plans to restructure its portfolio over the next five years, pulling out of loss-making businesses, expanding outsourcing overseas and developing new engines of growth such as energy and healthcare.

Written by Mobile Today
Mobile Today

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