Royal Philips Electronics N.V. Shareholders Approve Lighting Biz Spinout

Royal Philips (NYSE:PHG) said last week that its shareholders approved the spinout of its legacy lighting business as a stand-alone, publicly traded company.

The Dutch conglomerate is looking to shed the 123-year-old lighting business, which is said to be worth some 2.5 billion ($2.6 billion), and is also planning to merge its healthcare and consumer segments.

“We welcome the…

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