Philips possible prey for future takeover, former managers say
Philips, the Dutch technology company, could be a prey for a takeover in the future, the Dutch daily NRC Handelsblad reported, based on interviews with two former senior managers of the company.
Both former senior managers declined to be named, but told NRC that a takeover of Philips by a competing company is possible, now that the company’s Philips Lighting division is going to the public stock market.
One of the former senior managers said that the remaining part of Philips, the part that doesn’t go to the stock market, could be taken over within the next 2 years. A business banker who works with Philips, who also refused to be named, said that a takeover of Philips is a realistic scenario.
There are many candidates who could be interested in a takeover of Philips, the report noted. Those could be competing technology companies as Samsung, GE and Siemens or pharmaceutical companies like Johnson & Johnson and Roche.
Philips CEO Frans van Houten said that he believes Philips is strong enough to survive on its own and that he does not fear a takeover, the article said.
NRC Handelsblad