Scandinavia turned into a hotbed of M&A activity on Monday, with General Electric Co. agreeing to sell its appliance division to Electrolux of Sweden for $3.3 billion in cash, while FMC Corporation separately announced a deal to acquire Cheminova, a subsidiary of Denmark-based Auriga Industries, for $1.4 billion.
The GE deal would combine the company’s established products with Electrolux’s Frigidaire, one of the best-known brands for refrigerators. Electrolux would continue to use the GE appliance brand names as part of the agreement.
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