The Austrian sensor maker ams is submitting a new offer for Osram worth €41 per share. On this basis, Osram will be valued at around €4.6 billion.
“Over the past few days, we have had constructive discussions with ams about the conditions for a new takeover bid,” said Olaf Berlien, CEO of Osram. “The Managing Board welcomes the progress made so far and is confident that both sides can agree on a future-oriented strategic concept.”
At the beginning of October, ams’ first offer failed to attract sufficient acceptance from Osram shareholders. Subsequently, the Osram Executive Board invited ams management to explore possibilities for cooperation within the legal boundaries.
Osram’s Managing Board and the majority of the Supervisory Board considered the ams bid and associated strategy to be “promising in many respects”, particularly with regard to the further development of the Opto Semiconductors business unit. By merging with ams, this business unit could benefit from the development of innovative sensor and photonics solutions, and the use of established customer access.
At present, ams is Osram’s largest single shareholder with a stake of almost 20 percent.
Meanwhile, Advent and Bain Capital have announced that they will abstain from a takeover offer at this time. The two financial investors had announced a possible offer for Osram at the end of September.