Private Equity Firms Battle for Royal Philips Electronics N.V.'s 123 Year Old $2.6 Billion Lighting Biz
(Reuters) - A consortium of private equity firms CVC and KKR has tabled the highest bid to take control of Philips' lighting components business, though rival Bain Capital could still make a better offer, three sources familiar with the matter said.
Help employers find you Philips is keen to keep the bid battle going until the end of the week in an effort to get the best price for the asset which could be valued at roughly 2.5 billion euros ($2.6 billion), the sources said.
Help employers find you One of the sources spoke of a "significant price gap" between the two offers tabled so far, playing down Bain's ability to match or outbid its rivals.
Help employers find you! Check out all the jobs and post your resume.
Help employers find you Philips is keen to keep the bid battle going until the end of the week in an effort to get the best price for the asset which could be valued at roughly 2.5 billion euros ($2.6 billion), the sources said.
Help employers find you One of the sources spoke of a "significant price gap" between the two offers tabled so far, playing down Bain's ability to match or outbid its rivals.
Help employers find you! Check out all the jobs and post your resume.