Philips Shares Up After Two Activists Join Forces

Dec.10.07 | About: Koninklijke Philips (PHG)

JANA Partners and the D.E. Shaw both own Koninklijke Philips Electronics (NYSE: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.