China’s Haier Group is lined up to buy General Electric’s Louisville-based appliance division for more than $4 billion, the Wall Street Journal is reporting.
Citing two sources familiar with the matter, the WSJ said a deal could be made public as early as Friday, although the timing of an announcement is subject to change.
In 2014, Swedish appliance maker Electrolux entered into a deal to acquire GE Appliances for $3.3 billion.
In turn, the U.S. Department of Justice sued to block the acquisition, saying it would create a duopoly between Whirlpool and Electrolux and harm consumers.
Five weeks into the DOJ’s antitrust trial to halt the acquisition, GE backed out of the deal with Electrolux late last year and announced it would relaunch its search for a buyer.