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© ams Business | October 09, 2019

ams failed to complete its takeover of Osram

The Austrian company’s offer for Osram did not achieve minimum acceptance threshold. However, ams says it remains committed to pursue the acquisition.

ams, did not reach the minimum acceptance threshold of 62.5% required in conjunction with the all-cash takeover offer for Osram Licht AG. The final acceptances level was 51.6%. With that being said, as a result of purchases prior to the expiry of the offer, ams is currently the largest shareholder in OSRAM with a direct shareholding of 19.99%. However, the Austrian company will not exceed this current shareholding before having obtained required merger control and other regulatory clearances. ams continues to view the combination of the companies as strategically compelling given that it would enable the creation of a global powerhouse in sensor solutions and photonics. To this effect ams continues to explore strategic options to pursue the acquisition. “While the highly attractive ams Offer for OSRAM at a full valuation was not successful, the strategic logic and the significant advantages of combining ams and OSRAM are unchanged,” said Alexander Everke, CEO of ams, in a press release. “We intend to leverage our position as OSRAM's largest shareholder in a dialog with OSRAM as we continue to pursue the full acquisition of the company, securing a solid future for OSRAM,” Everke concludes.
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October 11 2019 3:09 pm V14.5.0-2