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The New York Times reports that Swedish household appliance manufacturer Electrolux AB (OTCMKTS ADR: ELUXY) will acquire the appliance business of General Electric Co. (NYSE: GE) for roughly $3.3 billion. Last month, General Electric said it was selling its appliance division in order to focus its strategy on industrial products like jet engines. According to terms of the deal, Electrolux will still manufacture products under the G.E. Appliances name, which is iconic for producing the first of certain household products like the toaster oven and the laundry washer and dryer.