D.E. Shaw, Jana Take Aim At Dutch Electronics Giant

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.


In Depth

Q&A: Reg A+ Will Transform the Alternative Asset Landscape

Jul 7 2015 | 4:03pm ET

In addition to easing capital formation for small companies, Regulation A+ has enormous...

Lifestyle

Fiat Chrysler Files Paperwork For Ferrari IPO

Jul 23 2015 | 5:05pm ET

Italian sportscar maker Ferrari has taken a step closer to a stock market listing...

Guest Contributor

Lifting of Foreign Ownership Limits Signals Sea Change in Vietnam's Capital Markets

Jul 28 2015 | 3:01pm ET

The lifting of restrictions on foreign ownership limits in Vietnam later this year...

 

Editor's Note