Austria’s AMS heats up Osram bidding war with a $4.9 billion buyout bid


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Austria’s AMS heats up Osram bidding war with a $4.9 billion buyout bid

On Friday, the 27th of September 2019, Austrian sensor maker AMS, formerly known as Austria microsystems AG & headquartered in ‎Unterpremstätten, Styria, Austria, maker of screen sensors for Apple Inc.’s iPhones, had raised its acquisition offer for Osram Licht AG, a Munich-based German lighting manufacturer, owned by Siemens AG, to €4.5 billion, potentially lighting up a bidding war as a private equity fund, Bain and Advent had also been vying to vent out a takeover deal for the German lighting group.

Nonetheless, prior to AMS’s latest takeover bid of €41 per share which is much-higher that of Bain and Advent’s, Osram was quoted saying on last Wednesday (September 25th) that the Massachusetts-based Bain and Advent were prepared to proffer more than the Austrian firm was offering, which was then €38.50 per share.

Following Osram’s provoking comments on Wednesday (September 25th), heightening its bid to a €41.00 per share as beforementioned for 100% of the share capital of OSRAM, AMS said in a statement on Friday (September 27th), “AMS ...

has increased the price of its all-cash takeover offer for 100% of the share capital of Osram to 41.00 euros per Osram share. All other terms and conditions of the best and final offer remain unchanged. AMS now holds 14.69% of all Osram shares as a direct shareholding including shares unconditionally bought today but not counting the shares already tendered into the Best and Final Offer.

This makes AMS the largest shareholder in Osram based on the latest information available,” which potentially lighted up OSRAM takeover bid further. Besides, the Austrian sensor maker, ASM, had also added on Friday (September 27th) that its offer would be viable until October 1st, which in effect would leave its rival a much-smaller window to alter its acquisition bid.