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BREAKING NEWS

AMS holds 19% in takeover target Osram

AMS holds 19% in takeover target Osram
FILE PHOTO: The logo of German lighting manufacturer Osram is illuminated at the company's headquarters in Munich, Germany, September 16, 2019. REUTERS/Andreas Gebert -
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Andreas Gebert(Reuters)
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VIENNA (Reuters) – Austrian sensor specialist AMS <AMS.S> <AMS.VI> held 18.56% of Osram <OSRn.DE> shares on Friday, still far away from the 62.5% threshold it has set for a successful takeover in a bidding war with private equity groups for the German lighting group.

AMS increased its offer for Osram to 41 euros per share on Friday after investors Bain and Advent had said they planned to trump the Austrian group’s initial bid of 38.50 euros a share.

The acceptance period is set to expire on Tuesday, but it might take the end of the week to find out whether AMS managed to convince enough shareholders.

(Reporting by Kirsti Knolle; Editing by Tassilo Hummel)

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