Osram: ams ends negotiations for takeover bid
(CercleFinance.com) - ams AG, an Austrian manufacturer of high performance sensors, has ended discussions to acquire German lighting group Osram, the company said on Tuesday.
The announcement came after Osram said it has received a non-binding, preliminary expression of interest from ams for a public takeover based on a preliminary price of 38.50 euros per share.
Earlier this month, Osram backed a takeover offer from private equity firms Bain Capital and Carlyle at a price of 35 euros per share in cash.
However, this morning ams said it does not see a "sufficient basis" for continuing the discussions with Osram, following an evaluation of recent developments.
The shares of Osram were down 5.5% at 33.1 euros on the news.
Copyright (c) 2019 CercleFinance.com. All rights reserved.
The announcement came after Osram said it has received a non-binding, preliminary expression of interest from ams for a public takeover based on a preliminary price of 38.50 euros per share.
Earlier this month, Osram backed a takeover offer from private equity firms Bain Capital and Carlyle at a price of 35 euros per share in cash.
However, this morning ams said it does not see a "sufficient basis" for continuing the discussions with Osram, following an evaluation of recent developments.
The shares of Osram were down 5.5% at 33.1 euros on the news.
Copyright (c) 2019 CercleFinance.com. All rights reserved.