Report: GE getting out of appliance business

by jetjet | May 14, 2008 at 05:34 pm
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General Electric Co. plans to auction off its appliances business, The Wall Street Journal reported Wednesday.

GE has hired Goldman Sachs Group Inc. to run an auction for the appliance division, according to the newspaper, which quoted unidentified sources. The sale could yield between $5 billion and $8 billion, the Wall Street Journal reported.

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