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Non-Tech : Kirk's Market Thoughts -- Ignore unavailable to you. Want to Upgrade?

To: Ken Adams who wrote (2925)	3/19/2015 7:37:00 PM
From: robert b furman	Respond to of 26769

I've seen autonomous vehicles that monitor your eyes. If when you fall asleep it quits driving. You may be able to do other things, but if driving, you are still responsible to pay attention. Bob

To: Ken Adams who wrote (2925)	3/20/2015 10:09:08 AM
From: Kirk ©	Respond to of 26769

Looks like Philips will sell Lumileds to a PE group. This is similar to what Agilent did to spin off Avago... Both Avago and Lumileds were where I started working at HP as an summer intern (paid intern) in what was called OED back in 1978. In the early 1980s, we split into OED and OCD - optical communications division which became Avago. Avago was KKR & Silverlake en.wikipedia.org Philips Lumileds Lighting Company. en.wikipedia.org KKR, CVC Said to Near Deal for Philips Lighting Component Unit (Bloomberg) -- KKR & Co. and CVC Capital Partners are nearing an agreement to buy Royal Philips NV’s lighting components unit, accelerating the Dutch firm’s shift toward medical technology, people with knowledge of the situation said. The private-equity firms have offered to buy 80 percent of the unit, with a bid valuing the whole of the business at about 2.5 billion euros ($2.7 billion), the people said, asking not to be identified discussing a private matter. Philips would retain the remaining shares. While a deal with KKR and CVC could be announced as soon as next week, no final decision has been made and a rival may still make a last-minute comeback, the people said. Bain Capital LLC, the Boston-based buyout firm that was also one of the final bidders, is no longer in the running at this stage, one of the people said. A third bidder, comprising a group of Asian investors, is still involved in negotiations, another person said. While that group is seeking financing for a bid that may be 15 percent higher, Philips probably prefers to work with a PE partner, one of the people said. AND Buyout groups line up bids for Philips' lighting business - sources FRANKFURT, March 2 (Reuters) - Philips' sale of the majority of its lighting components business is nearing an end as buyout groups are lining up final bids, three sources said on Monday. A consortium of private equity firms CVC and KKR as well as investor Bain Capital were expected to hand in offers by a Monday deadline valuing the business at roughly 2.5 billion euros ($2.8 billion), the sources said. The medical electronics-to-coffee machines group, which started making light bulbs 123 years ago, is splitting off its lighting business, whose earnings have been squeezed in a price war with Chinese makers of light-emitting diodes (LEDs). It has vowed to focus on higher-margin activities. Separately and ahead of a potential spin-off, it has combined its so called Lumileds and its car lights division into a stand-alone company and has mandated Morgan Stanley to find a buyer for the business, which has 1.4 billion euros in sales. Philips has said the lighting components business would be better placed to compete on a standalone basis for outside customers, which currently regard Philips as a rival. It intends to hold onto a minority stake, however, as about a fifth of Lumileds's sales of 500 million euros are made to the parent. Profit figures for the business have not been made public but sources have said in the past its core earnings or EBITDA are about 290 million euros. Peers such as Hella, Cree and Acuity trade in a range of 6.1 to 13.4 times expected earnings. Philips and the buyout groups declined to comment. (Reporting by Arno Schuetze; Editing by Thomas Atkins)