AMS Launches New Osram Bid - Energy Watch News

AMS Launches New Osram Bid

AMS launched a renewed $5 billion takeover bid for Osram on Thursday, hoping its latest offer would convince investors with a lower acceptance rate and concessions to the German lighting group’s management and trade unions. The Austrian sensor maker failed with a first offer at the same price of 41 euros ($45.38) per Osram share last month, a setback for Chief Executive Alexander Everke’s plan to form a European leader for integrated sensor and lighting solutions. AMS collected 51.6% of shares, including its own nearly 20% stake, short of the required 62.5%. Some investors had hoped for a higher offer from private equity groups Bain Capital and Advent, which they had signaled but then refrained from after AMS’s miss. After the finance duo’s exit, Everke continued to negotiate with Osram management and labor representatives to overcome their opposition. They had voiced doubts regarding the ability of AMS with 8,500 staff to integrate Osram’s more than 24,000 employees.

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