Dutch electronics giant N.V. Philips Gloeilampenfabrieken said...

Dutch electronics giant N.V. Philips Gloeilampenfabrieken said it would launch a $609-million tender offer to gain full control of its U.S. unit, North American Philips Corp., as part of a plan to streamline its global operations. Philips, which currently controls 58% of North American Philips, said it would offer $50 for each share it does not own. The U.S. company’s stock surged on the news to close at $53.125 a share, up $11.125 in New York Stock Exchange trading.