AMS launches a new attempt at Osram takeover

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Munich The Austrian AMS is approaching the Munich lighting company in its new takeover bid for Osram. The chip and sensor manufacturer officially presented the 4.6 billion euro offer on Thursday.

In it AMS boss Alexander Everke offers a cooperation agreement with an extended protection for the Osram employees in Germany in prospect, which is to secure locations and jobs. The Osram board and employee representatives should be given more say in the development of the future strategy.

"We are in constructive talks with AMS," said an Osram spokesman. "We welcome the previous negotiation results and hope to finalize the agreement soon."

AMS offers as in the failed first offer 41 euros per share. However, the acceptance threshold was lowered to 55 percent from 62.5 percent. Osram shareholders have until 5 December to accept the offer.

Financial supervision Bafin had examined the offer for ten days. After she did not contact AMS until the deadline, the offer under the Securities Acquisition Law (WpÜG) is considered approved.

AMS had exploited a gap in the law and after the failure announced a new takeover offer by return mail. With the help of a new bidding company, the Austrians circumvented a twelve-month blocking period.

The first attempt by AMS had failed because the Austrians missed the self-imposed minimum threshold of 62.5 percent of the shares. AMS already owns almost 20 percent of the shares.

More: An alliance with the unloved AMS could advance the lighting company strategically at the end, says Handelsblatt correspondent Axel Höpner. This is a great opportunity for both companies.

(t) Alexander Everke (t) Austria (t) Mergers & Acquisitions M & A (t) BaFin (t) Alexander Everke (t) Lighting & Lines (t) Electric


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