Wednesday, 29 July 2015
Last updated 6 hours ago
Dec 11 2007 | 9:34am ET
A pair of high-profile activist hedge funds have taken aim at Europe’s largest consumer-electronics maker, aiming to improve “operating performance and capital structure.”
D.E. Shaw Group and Jana Partners said this weekend that, together, they had acquired 1.6% of Royal Philips Electronics. The hedge funds did not elaborate on their plans, only saying they will “act together to jointly communicate their views, publicly or privately, regarding operating performance and capital structure.” Het Financieele Dagblad, the Dutch business newspaper, said the hedge funds plan to enter talks with Philips.
For its part, Philips told Bloomberg News that it holds “frequent” discussions with “a great many” shareholders, but would not say if it had spoken with D.E. Shaw or Jana.
May 27 2015 | 2:15pm ET
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