Plus   Neg

Ams Welcomes Positive Recommendation From OSRAM For Takeover Offer

Austrian sensor manufacturer ams, which is offering to acquire German lighting manufacturer Osram Licht AG (OSAGF.PK), on Tuesday welcomed the positive recommendation for its offer by Osram.

Earlier in the day, Osram recommended its shareholders to accept a 41 euros per share takeover offer from ams after reaching a business combination agreement that will protect employees from merger-related layoffs until the end of 2022. The shareholders have time until December 5, 2019, to accept the offer.

In its statement, ams said it recognizes the shared views surrounding the strategic logic of the combination and the financial attractiveness of the Offer.

Further, ams said it is pleased that OSRAM board members have stated to tender their shares into the Offer.

The Business Combination Agreement or BCA between both companies creates a collaborative framework to deliver the joint strategic vision and a successful combination of ams and OSRAM.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
The media mogul and Billionaire Sumner Redstone passed away on Tuesday at the age of 97, his family's holding company National Amusements said in a statement on Wednesday. He was Chairman Emeritus of ViacomCBS and chief executive officer of National Amusements. Customers in the U.S. are preferring digital or touchless payment methods due to concerns arising from the COVID-19 pandemic, a survey said. According to the survey by Rapyd Financial Network, the coronavirus pandemic has raised health and safety concerns around using cash and coins, and is accelerating the pre-existing trend toward digital transactions. American Airlines has extended its offer to waive change fees for customers who purchase tickets for travel, until December 31, 2020 in response to lower travel demand due to the coronavirus pandemic. This means that the travelers need not pay penalties for changing the origin and destination cities.
Follow RTT