Reuters- U.S. hedge funds Jana Partners LLC and D.E. Shaw Group said they plan to talk to Philips Electronics on its performance and capital structure, lifting its shares to a month high.
The two hedge funds own 1.6 percent of Philips, which is the world’s biggest lighting company, a top-three hospital-equipment maker and Europe’s biggest consumer electronics producer, they said in a statement issued at the weekend.
Philips shares were up 4.5 percent at 29.77 euros by 1000 GMT, adding about 1.5 billion euros ($2.2 billion) to its market value to 34 billion euros. The shares outperformed a flat DJ Stoxx 50 index.
