CK clears regulatory hurdles for Philips buyout

Aug. 17, 2007
Color Kinetics has announced regulatory approval in US and Germany for its acquisition by Philips
Color Kinetics, which has agreed to be acquired by Philips Holding USA Inc. for $34.00 per share in cash, says that the acquisition has cleared the 30-day waiting period under US antitrust law.

Germany's Federal Cartel Office has also cleared the transaction with respect to anti-competitive legislation.

Color Kinetics stockholders will meet to vote on acquisition on August 22. Assuming that the merger agreement is approved, the closing of the transaction is expected to occur on August 24.

*** UPDATE *** On August 22, COlor Kinetics shareholders adopted the merger agreement - see news. ***

More details of the deal can be seen at:
Philips to acquire Color Kinetics in $791 million deal
Analysis: Philips and Color Kinetics