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Ams Commits To Pursue Osram Takeover, After EUR 4.3 Bln Bid Fails

ams said it committed to continue pursuing the acquisition of Osram Licht AG (OSAGF.PK), after its 4.3 billion euros bid failed to receive enough support from shareholders.

Osram shareholders tendered 51.6% of their shares, ams said in a statement, falling short of a 62.5% threshold set by ams for the deal to be successful.

Following a months-long takeover battle against private equity suitors, ams said it continued to view the combination of ams and OSRAM as strategically compelling and "continues to explore strategic options to pursue the acquisition of OSRAM."

ams emerged as the biggest shareholder in Osram, with a 19.99% direct holding.

In a separate press release, Osram said Bain Capital and Advent International are inspecting the books with a view to submitting an offer for Osram.

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