Royal Philips $1.7 billion acquisition of Spectranetics

Overview:

• Royal Philips has acquired Spectranetics for $1.7 billion.
• Spectranetics develops, produces and distributes medical devices.
• Royal Philips is going to acquire other smaller companies as part of its wider growth strategy.
• The deal has been announced before June 18th report that activist hedge fund Third Point had bought Philips shares.
• JPMorgan Securities acted as financial adviser to Spectranetics.

Katrin Kostadinova - Data analyst