Lattice Power denies takeover of Philips Lumileds

Min Wang, CEO of the Chinese start-up company has explained to LEDinside magazine that it is definitely not going to take over Philips Lumileds.

On enquiry whether a bid had been submitted he answered evasively that he didn’t want to comment at present but would disclose the outcome of the final bid in due course.

Previously Reuters news agency had reported that Lattice Power together with two financial investors had submitted a last-minute bid for the takeover of Philips’ lighting division. Besides this other financial investors had put in bids.

Already last year Royal Philips had decided to combine its LED business with its vehicle lighting sector and place it as an independent company within the Philips Group. Now apparently the possibilities are being sounded out: The new company could be floated on the stock market or sold. Perhaps also only one strong external investor will come along and Philips itself will remain a shareholder, too – and a customer.

At present there are no other statements available.