Genlyte Group Inc. (Genlyte) today announced it has entered into a definitive merger agreement with Philips Holding USA Inc. (Philips), a fully-owned subsidiary of Royal Philips Electronics pursuant to which Philips will acquire Genlyte in an all-cash transaction for approximately $2.7 billion USD that will create one of the world leaders in lighting fixtures, controls, and related products. The acquisition will be conducted by means of a tender offer for all of the issued and outstanding ...

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