VIENNA (Reuters) – Austrian AMS <AMS.S> <AMS.VI> on Friday said it had failed to reach a required threshold for completing a takeover of German lighting group Osram <OSRn.DE> shareholders.
AMS said managed to secure backing from only 51.6% of Osram shareholders, instead of the required 62.5% level.
AMS had fought a fierce takeover battle for the leader in automotive lighting with private equity groups and upped its bid a week ago, days before the acceptance period expired.
Separately, Osram on Friday said it has invited AMS’s management to engage in discussions on a meaningful and mutually beneficial collaboration.
(Reporting by Kirsti Knolle; Editing by Edward Taylor)