Deals
Philips Shares Rise on Report Joint KKR, CVC Lighting Zest
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Royal Philips NV rose to a nine-month high in Amsterdam trading after Het Financieele Dagblad reported that KKR & Co. and CVC Capital Partners Ltd. may make a joint bid for the Dutch company’s lighting solutions division.
Philips shares gained as much as 4.3 percent and traded 3.7 percent higher at 25.51 euros as of 12:24 p.m. in Amsterdam, valuing the company at 23.9 billion euros ($27.7 billion). That’s the highest price since April 10.