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U.S. blocks Philips' $3.3 billion sale of Lumileds to Asian buyers | Reuters

Jan 23, 2016    

AMSTERDAM Philips's (PHG.AS) plan to shed its lighting businesses suffered a setback on Friday when a $3.3 billion deal to offload the components division to Asian buyers was blocked by the United States on security grounds.

The agreement to sell an 80 percent stake in the Lumileds division based in California ran into opposition from the Committee on Foreign Inve...

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