Philips hopes to take over US medical company Respironics for some €3.6bn in cash. If the deal goes through it will make the Dutch firm the biggest medical systems group in the world.
Philips is offering $66 a share for Repironics, a premium of over 24% on the company’s Thursday closing price. It is the Dutch firm’s biggest ever takeover.
Respironics, which focuses on home respiratory technology and sleep therapies, booked turnover of $1.2bn in the year to September.
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