The Strategist

Austrian AMS offers to buy German Osram for € 3.7 bln

08/12/2019 - 14:38

Austrian AMS AG made a new offer to purchase the German Osram Licht AG, valuing the lighting equipment manufacturer at € 3.7 billion. The news was announced a few days after the company’s major shareholder rejected the offer from competitors with a lower amount.

Bjørn Erik Pedersen
Bjørn Erik Pedersen
As part of the offer, Osram shares are valued at €38.5 per share, AMS said in a statement. This price is higher than €35 per share proposed by investment funds Bain Capital and Carlyle Group. Osram's main investor, Allianz Global Investor, rejected it last week, considering it too low.

Osram shares jumped 9.5% during the trading session on Monday and reached €34.67 per share, compared with a closing price on Friday at €31.65.

The fight for the takeover of Osram began after several warnings about the company's profit decline and a public dispute with Siemens AG over the strategy.

OSRAM AG is a high-tech German company working in the field of lighting. It was a subsidiary of the Siemens AG concern from 1978 to 2013; Siemens AG owns only 17% of the company at the moment.