Osram advises investors to accept $4.8 billion offer from AMS - SABC News - Breaking news, special reports, world, business, sport coverage of all South African current events. Africa's news leader.

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Osram advises investors to accept $4.8 billion offer from AMS via SABCNewsOnline

AMS launched its 38.50 euro per share offer for the company earlier this month, beating a rival offer from private equity investors Bain Capital and Carlyle Group by 10%.

Osram had initially backed the finance investors’ offer, who had agreed to maintain Osram as an independent company with its current management and to support its strategic direction. AMS, best known for supplying Apple with sensors for its latest iPhones, wants to focus a combined business strongly on the auto industry and supply manufacturers with sensors and lighting solutions for self-driving cars.“Based on extensive interaction with investors in Europe, the US and Asia, AMS sees strong support for its strategic vision including Osram, which is reinforcing AMS’ conviction for the offer,” the Austrian group said.

Osram’s supervisory board decision to recommend AMS’s offer was not unanimous. Employee representatives fear that AMS could break up the company. Osram’s management and supervisory board are worried about the long-term business prospects.

 

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