The appliance maker Electrolux, rumored as a takeover target for months now, is considering making its own acquisitions as the industry consolidates, its chief executive, Hans Straaberg, said on Monday.
“We have clear evidence that Electrolux has been the predator and not the prey, and we intend to stay the predator,” Straaberg, a hunter who has a moose head trophy in his Stockholm office, said during an interview on Monday.
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Electrolux Kelvinator Ltd (EKL), part of Electrolux group of Sweden, is targeting to become the largest player in the white goods industry by ’07.
The world’s second largest home appliances manufacturer Electrolux has said it is in talks to buy General Electric’s household appliances business, seeking to increase its foothold in the USA which is growing faster than its other markets in Europe.
LONDON, October 21 (New Ratings) – Analysts at Dresdner Kleinwort Wasserstein reiterate their “hold” rating on Electrolux (ELX). The target price is set to SEK177.