Respironics, Philips merger granted additional approval

By Lisa Kerner

Charlotte, N.C., March 5 - The European Commission approved the proposed acquisition of Respironics, Inc. by Royal Philips Electronics NV, it was announced on Wednesday.

In December, Respironics agreed to be acquired by Philips for $66 per share in a deal valued at some $5.1 billion.

It was previously reported that Respironics will become the headquarters for the Philips Home Healthcare Solutions group within Philips Healthcare, with Respironics' senior management expected to remain with the organization.

Based in Murrysville, Pa., Respironics manufactures and distributes products and programs for the sleep and respiratory markets.

Philips Electronics is an Amsterdam-based company with products and services for the health care, lighting and consumer lifestyle markets.

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