Osram: Allianz not enthused by Bain and Carlyle's offer
(CercleFinance.com) - Yesterday evening, Allianz Global Investors took a stance on the the US investment funds Bain and Carlyle's proposed takeover of Osram Licht, of which it is the largest shareholder with a stake of over 9%.
As a major shareholder in the lighting specialist since 2013, the German institutional investor has studied the offer and concluded that the proposed 35-euro per share offer does not reflect the value of Osram, which it believes deserves more .
Allianz Global Investors is therefore considering not accepting this offer, although it has been recommended to shareholders by Osram's management.
Allianz GI finally declares that it finds it "regrettable" that Osram's management does not seem to have enough confidence in the group that it runs, as it has chosen to sell it at a price that seems to be low.
Copyright (c) 2019 CercleFinance.com. All rights reserved.
As a major shareholder in the lighting specialist since 2013, the German institutional investor has studied the offer and concluded that the proposed 35-euro per share offer does not reflect the value of Osram, which it believes deserves more .
Allianz Global Investors is therefore considering not accepting this offer, although it has been recommended to shareholders by Osram's management.
Allianz GI finally declares that it finds it "regrettable" that Osram's management does not seem to have enough confidence in the group that it runs, as it has chosen to sell it at a price that seems to be low.
Copyright (c) 2019 CercleFinance.com. All rights reserved.