• Most Popular
  • Most Shared

CORRECTED-Philips selling $1 bln stake in LG Display -term sheet

Wed Mar 12, 2008 9:11pm EDT

Stocks

   

(Corrects size of stake in second paragraph to 6.43 not 6.32)

Stocks  |  Mergers & Acquisitions

HONG KONG, March 12 (Reuters) - Dutch electronics giant Philips (PHG.AS) was selling about $1 billion worth of shares in South Korean flat screen maker LG Display (034220.KS) (LPL.N) on Wednesday at a discount of 4.8 to 8.1 percent to the stock's closing price in Seoul, according to a term sheet.

Philips was selling 23 million ordinary shares, or 6.43 percent of LG Display, at a range of 42,750-44,250 won apiece in a deal handled by Citigroup (C.N) and Credit Suisse (CSGN.VX), the term sheet said. (US$=971 won) (Reporting by Tony Munroe) (tony.munroe@reuters.com; Reuters Messaging: tony.munroe.reuters.com@reuters.net; +852 2843 6358, Fax +852 2845 0636))
Stocks
Mergers & Acquisitions


More from Reuters

Photo

U.S. producer prices jump, factory reports mixed

WASHINGTON (Reuters) - U.S. producer prices jumped a surprising 1.8 percent last month and industrial output rose firmly, leading to inflation jitters in financial markets. | Video

» More Top News
The Boeing 787 Dreamliner aircraft is surrounded by employees and special guests during its world premiere outside the Boeing assembly plant in Everett, Washington, in this July 8, 2007 file photo. REUTERS/Robert Sorbo/Files

Dreamliner set for test flight

Boeing's fuel-efficient 787 will take off on its first test flight, nearly two and a half years behind schedule. But the hurdles aren't over.  Full Article 

Aerospace and Defense Summit
Demonstrator holds a signboard with a slogan "Bla bla bla ACT NOW" during a rally outside the UN Climate Change Conference in Copenhagen, December 12, 2009. Credit: REUTERS/Christian Charisius

Rewarding polluters

A climate change scientist blasts proposals for a cap and trade system, arguing that it allows dirty industries to continue polluting, instead of rewarding innovation.  Full Article 

Climate Conference