China’s Midea Said to Make Takeover Approach to Electrolux (2)

Midea Group Co. is exploring a potential acquisition of Electrolux AB, according to people familiar with the matter, a bold move by the Chinese home appliance giant to add the higher-end luxury Swedish brand despite potential political opposition.

Midea made a preliminary approach in recent weeks to the white-goods manufacturer about a possible transaction, said the people, who asked not to be identified because discussions are private. Electrolux has so far not been receptive to the proposal, some of the people said.

Midea has been interested in Electrolux for some time and would only want a friendly deal, the ...