DutchNews.nl- The American hedge funds Jana Partners and the D.E. Shaw Group have joined forces to keep an eye on the financial results and capital surplus of Dutch electronics giant Philips, reports the Financieele Dagblad on Monday.
The investors claim a joint direct and indirect interest in Philips of 1.6%. Philips is valued at €32.5bn and had cash reserves of some €5bn at the end of the third-quarter.
The hedge funds have made their intentions public to avoid charges of conspiracy and insider trading, says the paper. A Philips spokesman told the FD that the company is aware of the situation but would not say if there has been contact.
