Philips to boost takeover tempo

Electronics giant Philips is planning to increase the tempo at which it takes over other companies, CEO Gerard Kleisterlee says in an interview with today’s Financieele Dagblad. ‘Over the past few months, we have freed up more people to identify potential takeover targets. That has delivered quite a pipeline,’ Kleisterlee told the paper.

Philips had some €6bm in cash at the end of last year and a market value of €9.5bn, the paper said. ‘Over the past two years we have bought for €4bn and given €6bn back to our shareholders,’ Kleisterlee said. ‘We now have much more at our disposal, and that could translate into bigger transactions.’
Philips particularly wants to expand in medical systems and specialty lighting.

Thank you for donating to

We could not provide the Dutch News service, and keep it free of charge, without the generous support of our readers. Your donations allow us to report on issues you tell us matter, and provide you with a summary of the most important Dutch news each day.

Make a donation