© ams Business | September 30, 2019
ams ups its offer for OSRAM
The Austrian chipmaker is responding to the offer that OSRAM received from Advent and Bain Capital by increasing its own.
ams says that it has increased the price of its all-cash takeover offer for 100% of the share capital of OSRAM to EUR 41.00 per OSRAM share in what the company calls its ‘Best and Final Offer’. All other terms and conditions remain unchanged. The offer continues to expire on 1 October 2019. "We enable OSRAM shareholders to benefit from our Best and Final Offer at significantly improved terms and we seek to put an end to any speculation about an uncertain Indicative Third Party Offer," says Alexander Everke, CEO of ams, in a press release. "The Best and Final Offer is immediately actionable and is highly attractive for all of OSRAM's stakeholders whilst consistent with the M&A criteria of ams. Our strategic vision is to create a global technology leader in sensor solutions and photonics. We have provided comprehensive commitments aimed at safeguarding employees and production facilities of OSRAM in Germany and have carefully planned the successful integration of both companies. We offer a superior proposal to all stakeholders, including the OSRAM employees, given our strategic vision, higher growth, better cash flows and lower cost of capital, which compared to the Indicative Third Party Offer translates into a stronger company," Everke continues. ams says that it will continue to operate OSRAM’s existing German production sites – Regensburg, Berlin, Schwabmünchen, Herbrechtingen, Traunreut, Eichstätt – for a minimum period of 3 years (Standortsicherung). The Austrian company also promises to create jobs in manufacturing and engineering in Germany given the strategic nature of the Best and Final Offer.
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