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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.

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