Deals
Philips Scraps Lumileds Sale on U.S. Security Opposition
- Cancelled deal with GO Scale reflects wariness on China
- Philips says lighting separation plan won't be affected
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Royal Philips NV canceled a planned $2.8 billion sale of its lighting-components unit to a consortium led by GO Scale Capital of China because of opposition from a U.S. regulator charged with vetting foreign acquisitions to protect national security.