Deals
Philips Said Disappointed With Lighting Bids, Leaning To IPO
- A final decision on whether to sell shares likely soon
- Lighting division had $8.3 billion in annual revenue
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Royal Philips NV is disappointed with bids for its lighting business and is leaning toward an initial public offering, according to people familiar with the matter.
The Dutch manufacturer could seek a valuation of about 5.5 billion euros ($6.3 billion) in a potential listing, said the people, asking not to be identified as the information is private. The company is likely to make a final decision on the IPO plan soon, the people said.