Haier goes global with $5.4b GE Appliances buy

The deal brings together two companies that are the second-largest players in their respective home markets.

Haier Group’s planned $5.4 billion acquisition of the home appliances division of General Electric underscores the Chinese white goods maker's domestic and international growth ambitions.

The deal, announced on Friday, brings together two companies that are the second-largest players in their respective home markets. It is also the year's largest merger or acquisition to date and the third-biggest ever Chinese acquisition of a US company, according to Dealogic, pushing Dalian Wanda’s just-announced $3 billion takeover of Legendary Entertainment into fifth place.

Haier has an 8% share of the Chinese home appliance market, which includes refrigerators and washing machines, versus market leader Midea Group's 17% share,...

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