Philips Sale of Lumileds Blocked
Philips had been intending to sell its Lumileds LED manufacturing business to a China-led private-equity group. However, US authorities have forced Philips to cancel the $3.3 billion deal. Announced in early 2015, Philips was to sell an 80% stake in Lumileds to GO Scale Capital. However, the Committee on Foreign Investment in the United States … Read more