Midea Group ends pursuit of Electrolux, Bloomberg reports

Midea Group has dropped its pursuit of Electrolux after finding the home appliance maker unreceptive to a deal, Aaron Kirchfeld, Manuel Baigorri and Vinicy Chan of Bloomberg reported, citing people with knowledge of the matter. The companies have been contemplating a potential transaction since Midea’s preliminary approach in the spring. The Chinese appliance group reportedly was not able to fulfill all the demands from Electrolux and its top shareholder Investor AB.