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AMS hopes for cooperation agreement with Osram before new offer launches

AMS hopes for cooperation agreement with Osram before new offer launches
FILE PHOTO: The logo of Austrian sensor specialist AMS is seen on their factory in Unterpremstaetten, Austria October 3, 2019. REUTERS/Leonhard Foeger/File Photo -
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Leonhard Foeger(Reuters)
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VIENNA (Reuters) – Austrian sensor maker AMS <AMS.S> hopes to agree a cooperation agreement with Germany’s Osram <OSRn.DE> before it launches a new takeover offer for the much bigger lighting group, its Chief Executive said on Tuesday.

AMS, which failed with a first attempt this month, plans to launch a new bid for Osram <OSRn.DE> at the same price of 41 euros a share but at a lower acceptance rate of 55% to form a global leader in sensors and lights.

Chief Executive Alexander Everke confirmed at an investor call that recent discussions with Osram management, which initially opposed AMS’s plan, have been constructive.

“We expect to have a (cooperation) agreement in place before the offer launches,” he said in the call.

(Reporting by Kirsti Knolle, editing by Riham Alkouaa)

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