Sources told Reuters yesterday that the Electrolux is near to making a deal with General Electric Company to acquire GE Appliances for $2.5 billion.

Electrolux sales make it the second-largest appliance maker in the world after Whirlpool Corp. Acquiring GE Appliances may very well make Electrolux No. 1.

The Reuters account sources “people familiar with the matter,” who told the news agency that negotiations were ongoing and could still take some time to complete. On the other hand, they also indicated that there might be an official announcement as early as next week.

Electrolux, based in Sweden, is a global appliance makers that sells under its global brand Electrolux, as well as under more regional brands such as AEG and Zanussi in Europe. In North America, its two major brands are Electrolux and Frigidaire.

GE Appliances’ market is predominantly in North America, where it sells under the GE, GE Profile, GE Café, and GE Monogram brands. Adding GEA would add significantly to Electrolux’s North American market reach.

It is unknown to what extent Electrolux would integrate GEA’s management, administration, and manufacturing operations. GEA management and administration is largely based in Louisville, KY, while Electriolux has invested heavily in its headquarters and other operations in Charlotte, NC.

GE manufactures at several locations in the United States, including at the huge, historic Appliance Park manufacturing campus. Electrolux also operates several manufacturing operations in the United States. It is, again, unknown if or to what extent manufacturing would be consolidated should the deal go through