Osram said that it has begun talking with AMS on a Business Combination Agreement since August 13, aiming a publication of AMS' takeover offer before the end of September 5.

According to Osram, both parties will continue to carefully assess the details the agreement and hope to reach the common goal that ams will be able to start its tender period during the offer period of the existing takeover offer from the financial investors Bain Capital and The Carlyle Group, thus before the end of September 5, 2019.

AMS submitted the proposal to Osram on October 11 for a takeover offer of EUR 38.50 per share for all shares in OSRAM. The submission of the offer to the relevant Federal Financial Supervisory Authority BaFin, is subject to the condition that Osram waives an existing standstill agreement which currently prohibits AMS to acquire Osram shares. The agreement had been concluded when the Austrian sensor and chip specialist gained access to Osram's books after it had expressed its takeover interest.

In addition to the offer price and financing concept, a stable environment is important for Osram's further transformation into a semiconductor-based high-tech photonics company. Osram's Managing Board and Supervisory Board will review the Business Combination Agreement currently being negotiated in the near term and then decide whether to waive the standstill agreement.