Philips Shares Up After Two Activists Join Forces

JANA Partners and the D.E. Shaw both own Koninklijke Philips Electronics (PHG). Over the weekend, these activist investors say they intend to act together to communicate their views, regarding Philips' operating performance and capital structure. The investors hold interests representing approximately 1.6% of the outstanding common shares. No 13D has been filed because the investors do not own 5%.

They filed this disclosure over the weekend, because they did not want to be in violation of Dutch law.

Philips is trading up over 4% Monday on the news.

Philips Electronics makes a wide range of products from shavers and televisions to medical scanners and light-emitting diodes, in September launched its "Vision 2010" strategic plan.