AMS re-approaches Osram with modified acquisition offer
The Austrian sensor maker AMS has reinvigorated its offer for lighting company Osram Licht, by lowering the conditions for the success of the deal. Investors Bain and Advent have also announced their decision not to bid for Osram. The two have recently carried out a book investigation at the German company.
A bid of a total of 4 billion euros from AMS was previously accepted by not enough Osram shareholders to reach the 62.5 percent threshold. With 51.6 percent of the shares, AMS gained a majority.
It has now been decided to lower the acceptance threshold to 55 percent. AMS CEO Alexander Everke also stated to be in a constructive conversation with Osram. The Austrians hope that by abandoning competition in the battle for Osram, the shareholders of the lighting maker are inclined to still accept the offer.