AMS Withdraws Takeover Offer to Osram within One Day due to “Insufficient Basis”

Osram announced that it Austrian company ams has approached with the interest of a public takeover of Osram with a value of EUR 38.50 (US$ 43.36) per share. However, right after Osram’s announcement, ams decided to withdraw the offer as the company did not see “sufficient basis” for continually talking with Osram.

According to Osram, ams showed the interest of acquiring Osram by EUR 38.5 per share. The announcement noticed that to support the offer, ams will need a temporary bridge-loan facility of EUR 4.2 billion (US$ 4.73 billion) and a capital increase. Since none of those financial plans have taken place, the Managing Board of OSRAM considered “the probability of this transaction materializing as rather low.”

Soon after Osram’s announcement, ams said that “following an evaluation of recent developments ams does not see a sufficient basis for continuing these discussions with Osram.” The market value of ams is around EUR 3 billion (US$ 3.38 billion), while the current value of Osram is EUR 3.2 billion (US$ 3.6 billion).

Earlier in July, Osram confirmed the takeover plan offered by Bain Capital and the Carlyle Group with a value of EUR 35 (US$ 39.4) per share. The German company soon announced that it will support the public takeover offer. Bain Capital and the Carlyle Group did not comment on the news of ams.

Osram Supports Public Takeover Offer from Bain Capital and The Carlyle Group

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