© Osram Business | December 09, 2019
Osram invites ams to talks about the future
Following the successful takeover offer from ams AG, Osram’s Managing Board has invited the management of ams to make the journey together to becoming a global technology powerhouse for sensor solutions and photonics on the basis of the Business Combination Agreement.
Unchanged, management’s focus is aligned with the shareholders, the company and its employees. Following a value-oriented takeover process, Osram shareholders will receive EUR 41 per share, representing a markup of 42% since the start of the process. “What is important now is to create a world class photonics and sensor champion together with ams,” says Olaf Berlien, CEO of OSRAM Licht AG, in a press release. “We would like to thank the Osram shareholders for supporting the compelling strategic merits of this transaction,” adds Alexander Everke, CEO of ams. “We look forward to working closely with the OSRAM management team and all OSRAM stakeholders to realize the successful combination and achieve our shared objective of a European based global leader in sensor solutions and photonics.” In the Business Combination Agreement ams has made extensive commitments for Osram’s employees and production facilities, particularly in Germany. Merger-related layoffs, for example, have been ruled out until the end of 2022. Together and in a dialogue with the trade unions and employee representatives, the managing boards of Osram and ams will now prepare a viable integration roadmap as equals. Osram management sees numerous opportunities arising from the bundling of common strengths, especially in terms of the further development of the Opto Semiconductors business unit. The merger with ams will enable the LED sector to benefit, among other things, from the development of innovative sensor and photonics solutions and the use of established access to customers. The merger is still subject to antitrust and foreign trade approvals. Compliance with these regulatory steps and legal approvals are expected to take until summer 2020. In the second half of 2020, the necessary steps could then be taken to merge the two groups.
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