Philips extends RESP offer deadline
This article was originally published in Clinica
Executive Summary
Philips has moved the expiration date of its offer for Respironics shares to March 6. The original deadline for the offer had been February 4, but this was extended to February 22. On expiration of the second deadline, the Dutch electronics group said it had acquired 63.7 million - or 82% - of outstanding Respironics shares. In December 2007, Philips agreed to buy the Murrysville, Pennsylvania-based home healthcare and respiratory device specialist for $66 per share (see Clinica No 1288, p 1).