Exor can raise its Philips stake to 22% under extended agreement
Exor, the Agnelli family investment arm and Philips’ largest shareholder, extended its agreement with the health technology company, giving it flexibility to increase its stake to up to 22%. Exor’s initial 15.1% stake was announced in August 2023. Philips shares have risen nearly 25% since then, as Philips continued recovering from a 2021 product recall.