Osram recommends current takeover offer from ams

"After intensive negotiations, we have agreed on many decisive framework conditions for the future of Osram and our employees," says Olaf Berlien, CEO of OSRAM Licht AG, in a press release. "The most important thing is that the employees at German locations are protected from merger-related layoffs until the end of 2022.” In addition, the strong Osram brand is to be reflected in the company name of the new group. The sensor specialist ams explicitly supports the photonics strategy of Osram. Osram and ams have agreed on important points for the integration of Osram into the joint group. For example, employees are protected from merger-related layoffs until the end of 2022 at German locations, and approximately half of the central functions would be managed from the Munich location as the co-group headquarters. After concluding the business combination agreement, the Supervisory Board and the Executive Board recommend the present takeover offer of the Austrian sensor manufacturer ams to the Osram shareholders. The offer price of EUR 41 euros per share in cash. The offer is attractive for the shareholders. They have time until December 5, 2019, to accept the offer.