Seeking Alpha

Philips to merge subsidiaries

  • Philips (PHG) will merge its Lumileds LED components and Automotive lighting subsidiaries into one unit, as the company attempts to bring in more third-party capital.
  • "As a world-leading lighting components business, they will have increased flexibility to attract additional investors to accelerate growth," says CEO Frans van Houten.
  • In 2013, the two divisions amassed more than $1.9B in combined sales. The merger is expected to take place in the first half of 2015, and will cost Philips around €30M in the second half of this year.
Comments (0)
Be the first to comment
DJIA (DIA) S&P 500 (SPY)
ETF Tools
Find the right ETFs for your portfolio:
Seeking Alpha's new ETF Hub
ETF Investment Guide:
Table of Contents | One Page Summary
Read about different ETF Asset Classes:
ETF Selector

Next headline on your portfolio: