Matthew Waterman
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U.S. DOJ Trying To Block Sale Of GE's Appliance Business To Electrolux

The Department Of Justice started it's trial today against multinational electrical conglomerate General Electric (GE). Their competitor, Electrolux has offered to purchase the appliance business division of GE for $3.3 billion, but the DOJ argues that the sale is anti-competitive in nature, and will force consumers to have to pay about 5% more for appliances once Electrolux has no competition. 

Electrolux is the manufacturer of Frigidaire, Kenmore and Tappan brands.

GE Closed down 17 cents today at $29.75.