The transaction, which is expected to close in the first quarter of 2008, will be immediately accretive to sales growth and earnings before interest, tax and amortization (EBITA) margin to Philips and its healthcare unit, Philips said in a statement.
AMSTERDAM (Reuters) - Dutch Philips Electronics <PHG.AS><PHG.N> said on Friday it is to buy U.S. medical products company Respironics for 3.6 billion euros ($5.17 billion) or $66 per share to strengthen its healthcare business.
The transaction, which is expected to close in the first quarter of 2008, will be immediately accretive to sales growth and earnings before interest, tax and amortization (EBITA) margin to Philips and its healthcare unit, Philips said in a statement.
(Reporting by Foo Yun Chee)
