DUTCH electronics giant Philips said yesterday it would start the process of merging its Lumileds or LED components and automotive lighting businesses into a standalone subsidiary within the group. The
Philips did not rule out becoming a minority shareholder in the future.
The process of merging the two businesses into one is expected to be completed in early 2015. Philips shares rose 3.5 per cent.
Most Popular Stories
- GE Healthcare Bringing Jobs to Massachusetts
- Faith Groups Divest From Fossil Fuels
- James Foley Beheading Video Is Real Thing: White House
- Apple Stock Bounces Back Big Time
- Entrepreneur Contest Announced in Idaho
- Why BofA Won't Pay $17 Billion After All
- Obama Weighs Move on Legal Immigration
- Notes From the July FOMC Meeting
- Eric Holder Arrives in Ferguson
- Spiders Get Bigger, Reproduce Faster in Cities