AMS: Osram approves voluntary takeover bid
(CercleFinance.com) - The ams share is down 2.
2% in Zurich today, while Osram's management and supervisory boards have waived the agreement with Bain and Carlyle, signing a cooperation agreement with ams, hence paving the way for a takeover bid on the group.
The German lighting solutions group specifies that this offer, which should be valid until the beginning of October, has been made at 38.5 euros per share in cash, with a minimum acceptance level of 70%.
"Our shareholders now have two offers on the table, allowing them to choose between the different business concepts," said Olaf Berlien, CEO, while Bain-Carlyle's bid, at a price of 35 euros per share, was set to expire on 5 September.
Copyright (c) 2019 CercleFinance.com. All rights reserved.
2% in Zurich today, while Osram's management and supervisory boards have waived the agreement with Bain and Carlyle, signing a cooperation agreement with ams, hence paving the way for a takeover bid on the group.
The German lighting solutions group specifies that this offer, which should be valid until the beginning of October, has been made at 38.5 euros per share in cash, with a minimum acceptance level of 70%.
"Our shareholders now have two offers on the table, allowing them to choose between the different business concepts," said Olaf Berlien, CEO, while Bain-Carlyle's bid, at a price of 35 euros per share, was set to expire on 5 September.
Copyright (c) 2019 CercleFinance.com. All rights reserved.