Austria's AMS fails to complete 4.5 billion eur takeover of Osram

The Logo of Austrian sensor specialist AMS is seen on their factory in Unterpremstaetten, Austria October 3, 2019. REUTERS/Leonhard Foeger - Copyright LEONHARD FOEGER(Reuters)

By Reuters

Published on 04/10/2019 - 19:34•Updated 25/04/2024 - 03:15

Comments

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)

Comments