Amsterdam, the Netherlands – Royal Philips Electronics (NYSE:PHG, AEX:PHI) (“Philips”) today announced the expiration, as of 11:59 p.m. EST on December 17, 2007, of the mandatory waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended (the “HSR Act”), applicable to the previously announced tender offer by Philips’ indirect wholly owned subsidiary Golf Merger Sub, Inc. (“Philips Merger Sub”) for all outstanding shares of common stock of The Genlyte Group Incorporated (“Genlyte,” ) for $95.50 per Genlyte share, without interest and subject to any applicable withholding of taxes. The expiration of the mandatory waiting period under the HSR Act is a condition to Philips Merger Sub’s obligation to accept for payment and to pay for the Genlyte shares tendered into the tender offer.
On November 30, 2007, Philips Merger Sub commenced the tender offer for the Genlyte shares, which is being made in accordance with the Agreement and Plan of Merger, dated as of November 25, 2007, by and among Genlyte, Philips Holding USA Inc. and Philips Merger Sub (the “merger agreement”). The offer and withdrawal rights will expire at 12:00 midnight EST on January 2, 2008, unless the offer is extended in accordance with the merger agreement and the Tender Offer Statement on Schedule TO (containing the offer to purchase, a letter of transmittal and related materials) relating to the tender offer that has been filed with the Securities and Exchange Commission (the “SEC”).
Investors and stockholders of Genlyte are urged to read the Tender Offer Statement on Schedule TO because it contains important information, including the various terms of, and conditions to, the tender offer. Investors and stockholders of Genlyte may obtain these and other documents regarding the tender offer, the merger and the related transactions filed by Philips and Genlyte for free from the SEC’s website at www.sec.gov.
Georgeson Inc. is the Information Agent for the tender offer and any questions or requests for assistance or free copies of the offer to purchase and the letter of transmittal may be directed to it at 199 Water Street, 26th Floor, New York, NY 10004 or by telephone toll-free at (888) 679-2871 or at (212) 440-9800 (bankers and brokers only). Goldman, Sachs & Co. is the Dealer Manager for the tender offer and can be reached at 85 Broad Street, New York, NY 10004 or by telephone toll-free at (800) 323-5678 or collect at (212) 902-1000.
This release is for informational purposes only and is not an offer to purchase or a solicitation of an offer to purchase Genlyte Shares, nor is it an offer or solicitation of an offer to sell any securities. The tender offer is made solely by means of the offer to purchase.
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