Philips has said it plans to sell at least part of its 32.9 percent stake in LG Philips once a lock-up expires in July, but now says it iis unlikely to sell its stake in LG.Philips LCD Co. Ltd. in the market. Nonetheless such a sale cannot be ruled out said the head of LG.Philips LCD.
Philips raised $2.56 billion by selling more shares in Taiwan's TSMC on Wall Street, part of its plan to exit the world's top contract chip maker. Also, the company sells its stake in JDS Uniphase Corp.
Royal Philips Electronics NV will acquire Health Watch, an American company that offers personal emergency call out services. The Company will pay $130 million in cash for the acquisition. It is thought that the transaction will close in the second quarter of 2007. Additionally, Philips will acquire Digital Lifestyle Outfitters (DLO), a United States based company that designs, markets and distributes accessories for mobile audio-visual devices. The transaction is expected to close in the second quarter of 2007.