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Philips to acquire Genlyte
Published: 02 December 2007
Electronics giant snaps up lighting fixtures manufacturer
Philips has signed an agreement to take over Genlyte.
The US arm of the European conglomorate has put forward an all-cash deal that values Genlyte, which makes lighting fixtures and controls, at US$95.50 per share, or US$2,700m in total.
The transaction is expected to be completed by the end of March 2008.
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