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Osram shares surge after AMS takeover bid is successful

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By Reuters
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BERLIN (Reuters) – Shares in Osram <OSRn.DE> surged on Monday after Austrian sensor maker AMS <AMS.S> said it had succeeded at its second attempt with a 4.6 billion euro (4 billion pounds) bid for the German lighting group.

Osram’s shares rose 12.3% to 43.25 euros at 0816 GMT, while Zurich-listed shares in AMS were down 3.7%.

AMS on Friday announced it had gained more than 55% of Osram’s shares.

A first offer by AMS at the same price of 41 euros per Osram share in October failed. It lowered the necessary acceptance rate to 55% in its second attempt from the 62.5% it had missed.

(Reporting by Thomas Seythal, editing by John Revill)