FRANKFURT/BERLIN (Reuters) – Shares in Osram <OSRn.DE> were up 2.5% in early Frankfurt trade <OSRn.F> with traders citing a report by Bloomberg saying Bain Capital and Carlyle <CG.O> could raise their bid if AMS <AMS.VI> launches a formal bid for the German lighting group.
“Possible bidding war is positive for share price,” a Frankfurt-based trader said on Tuesday.
AMS earlier this month said it would pay a 38.5 euros per share for Osram, higher than the 35 euros Bain and Carlyle have been willing to pay.
Osram shares closed at 34.65 euros per share on Monday.
(Reporting by Christoph Steitz and Tassilo Hummel; Editing by Riham Alkousaa)