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Home Industry News Royal Phillips Electronics extends tender time for Respironics

Royal Phillips Electronics extends tender time for Respironics

14th February 2008

Royal Philips Electronics is to extend the expiration date arranged for its previously-announced tender offer for Respironics.

It commenced the offer for all outstanding shares of common stock for Respironics in January and has now extended the expiration date of the offer until midnight New York City time on February 22nd.

Philips has chosen to extend the offer because by February 1st, not all the conditions of the offer had been cleared under council regulation of the European community.

It urged all investors and stockholders of Respironics to read the tender offer statement that has been filed with the Securities and Exchange commission.

Last month, Philips completed its acquisition of Genlyte, a manufacturer of lighting fixtures and controls for the commercial, industrial and residential markets.

It reports that the cost of both acquisition and integration resulting from the deal is likely to be around ?55 million (£41 million) during 2008.

Philips is an international firm which offers healthcare, lighting and lifestyle products.

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