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Austria's AMS aims to wrap up Osram takeover in first-half 2020

Austria's AMS aims to wrap up Osram takeover in first-half 2020
FILE PHOTO: Logo of lamp manufacturer Osram is pictured during official opening of the company 'World of light' showroom in Munich, Germany, October 24, 2017. REUTERS/Michaela Rehle/File Photo -
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Michaela Rehle(Reuters)
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VIENNA (Reuters) – Austrian sensor specialist AMS <AMS.S> aims to wrap up its planned takeover of German lighting group Osram <OSRn.DE> in the first half next year, its chief executive said on Monday.

The Swiss-listed group on Sunday triggered a bidding war for Osram, saying it was ready to pay $3.8 billion (£3.16 billion) for Osram’s shares, 10% more than finance investors Bain Capital and Carlyle <CG.O> have already offered.

“We plan to hold a shareholder meeting to approve to rights issue in the fourth quarter this year and we expect to close the (Osram) transaction in the first half 2020,” Alexander Everke said in a conference call.

(Reporting by Kirsti Knolle; Editing by Edward Taylor)

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