AMS is going to announce the result of Osram’s takeover bid on October 3 after it reported that it is holding 19.99% of all Osram shares on October 1 as a direct shareholding, before the offer expired at midnight.

The sensor maker targeted for a minimum of 62.5% shareholding to win the bid against Bain and Advent. The consortium of Bain Capital and Advent reported their interests of joining the bidding with a better offer on September 26, which pushed AMS to raise its offer price from EUR 38.5 (US$ 42.17) per share to EUR 41 (US$ 44.91) on September 27, making a total amount of EUR 4.5 billion (US$ 4.9 billion) for acquiring Osram.

According to a report of Reuters, if AMS does not acquire more than 30% shares of Osram, the company will have to wait for one year before it launch a new offer. However, AMS has secured about 29% of shares before the deadline, reported LEDs Magazine.

Osram employee representatives did not stay in line with Osram’s supervisory board who suggested the shareholders to accept AMS’ offer as they are concerned with the job loss issue according to the business direction of AMS.