Why would you even waste your time looking at a prospectus. A little over a year ago Philips talked about selling lighting for $5.4 Billion. Now they are talking an IPO with market capitalization at $2.4 Billion. The alarms should be going off saying stay away. I heard their fixture sales are down 60+% over the past 4 years. Look at the quarterly and annual reports....the only thing they talk about is LED sales as a % of total sales. No sales data what so ever. They do talk about medical & consumer growth. Now take a look at Acuity's sales growth/stock growth($60 vs $260/share) over the past 4 years. Believe me the construction market has not grown to the levels Acuity is growing. Philips is hearing the sucking sound of their sales and customer base evaporating while Acuity glass continues to rise which will continue since their agents have little confidence. Oh and the one thing I forgot. In the past 4 years they lost about 20 of the most respected lighting managers in the world. They were not fired. Most of them saw the hand writing on the wall and left on their own.
Actually Lightolier was a div in genlyte....Lithonia was the biggest U.S. fixture maker. Philips is now, and the world, along with lamps, has been for decades
They have killed lighting. Not even their own agents want to sell their products since they cannot deliver on time, have not invested in new technologies, and are not competitively priced. Their larger agents like ALR (No. Calif) and SESCO (SE US) are selling their other lines. You are in real trouble when your own agents do not want to sell your products.
Oh, and Matsushita (Panasonic) was started by...Philips in the 50's as Matsushita was a nothing, the guy knew he needed technology, Philips had it, Philips owned like 35% of Panasonic for over 30 years, in it's hey day
Motorola invented the..........Cell phone, yeah nothing. they where also one of the first car radio makers, and two way radios in cars. then Panasonic took them over and ruined em!
actually Philips invented IPS which everyone uses in current LCD, they invented car halogen lamps, GE invented Halogen lamps, Philips invented sodium low pressure lamps, later GE did HPS, Philips invented CD DVD CD record able, RW etc also cassette for audio in the 60's and video cassette recording for home, Philips was always the largest lighting company in the world for decades, Lightolier was a small piece of Genlyte, Philips gave all the brands from Genlyte world exposure . Philips developed MRI, also part of the HDTV consortium, CCD, and 10,000 other items, in everything we now use. Wallstreet strikes again. Compact florescent lamps was introduced in 82, by...PHILIPS, after patents went off every one copys. XRD wqas introduced by Philips in the 30's with NRL in D.C. One of the first companys to offer medical insurances to it's employees. way back in the early days. Invented the worlds most popular electric razor Philishave (Noreleco) triple header, they even had teh FIRST car LED head lights with Audi, the list is large of what they pioneered. Wall Street has destroyed it Dupont is also GONE!
Reminds me of the old Motorola. Never created much of anything. However, when some other company would come out with a product they would create a me-too- knockoff.. Funny though as they did a great job of re-engineering others' products and conclude with a better product than was originally produced. In essence top management couldn't see beyond their noses.
Lightolier was the largest US lighting 100 year US company destroyed by really dumb senior foreign management. Philips buys and sells companies to retain all intellectual properties. Tv, LED, bulbs, fixtures all destroyed by the BLACK HOLE mentality company.
Their public communication about the future of their role in the lighting business is difficult to make sense is confusing. They hare selling part of the business, maybe having a stock offering for part of the business. It's seem like a lightbulb joke.
I have been investing since 1987 and pick my own stocks. I have never been on a board with such an interesting and knowledgeable responder. Most bash, cuss, belittle, etc. How nice of you to take your time to respond with such useful information. I thank you for all the time you took to explain your position and opinions. Hope this stock turns out to be a safe investment for me. I bought it in my IRA account and will see how it goes. I also own GE and it has gone up $6.00 a share since I purchased plus has paid me dividends for years. I used to own 13 preferred utilities but all have been called except one that I still hold. The dividends were great but all got called at a premium. I am retired so don't want much risk anymore. Good Luck to you and Happy New Year.
I don't know if the Ferrari spinoff is working differently than most spinoffs because Fiat's a foreign company or what (Fiat is actually incorporated in England, not Italy).
"if we won't own any of the company buying the lighting division, would we get a cash payout or continue to own the same amount of shares of PHG?"
You'll still own the same number of PHG shares no matter how they divest the lighting division. It's highly unlikely you'd get a cash payout, as the company has already said that the proceeds of the spinoff will be used in other parts of the company, though that specific language is suspect. "Proceeds of the spinoff" is kinda bogus language. Strictly speaking, a spinoff is the distribution of shares in a new company to parent company shareholders, in which case there are no proceeds to the parent company. I assume that what they meant by that language (which may have been the fault of a business reporter, not the company) is that the proceeds of the minority stake sold in the IPO would be invested in other divisions. The company gets nothing when it spins off shares to PHG shareholders.
In the unlikely event that you did get some kind of cash payout from the divestiture of the lighting division, you'd still own the same number of shares in PHG. But just like dividends, the price of PHG would be adjusted down accordingly.
If you do get shares in the new company, be aware that the price of PHG will be reduced by the value of the the spinoff shares ... when? Yes, exactly -- on the ex-distribution date for the spinoff shares. That's one of the prime reasons for having a minority share IPO -- it establishes a market for the new shares so that a fair market value will exist at the time of the spinoff, so that the parent company shares can be accurately reduced in price to account for the value of the company spun off.
No, I've never owned this stock, but I look at many boards in the process of trying to find something to buy.