Philips extends Genlyte offer

Philips has given shareholders in US lighting company Genlyte until January 16 to accept its bid for the company, the electronics concern said on Thursday.

The Dutch firm now controls some 77% of Genlyte’s shares after launching its €1.8bn cash offer for the firm last month.
If the takeover succeeds, Philips will be the US market leader in lighting.

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