PHG - Billionaire Agnelli Is Philips' Largest Shareholder Now - What's Going On? | Benzinga
Royal Philips NV (NYSE:PHG) shares are trading higher on Wednesday. Italy's famous Agnelli family has increased its investment in Philips, showcasing a robust vote of confidence in the Dutch firm known for its medical devices.
Through Exor NV, the family's holding company, the Agnellis now controls 17.51% of Philips, enhancing their position as the company's largest shareholder, an increase from 16.1% recorded in May.
This expansion in their stake is indicative of growing trust in Philips' market prospects and management following the recent resolution of legal ...