Osram sequel risks Pyrrhic victory for AMS edwardcropley
Austrian sensor maker AMS said on Oct. 18 it would launch a new bid for German lighting group Osram Licht after a previous 4.5 billion euro takeover attempt failed earlier in the month.
AMS said that it would keep its offer price at 41 euros per share. However it lowered the threshold for acceptances from shareholders to 55%, from 62.5% previously. The previous bid garnered the support of 51.6% of Osram shareholders, including AMS’s own stake of nearly 20%. Osram shares rose 3% on Oct. 18 to 40.15 euros following a Bloomberg report that AMS was contemplating a revised bid. AMS shares closed down 4.6% at 42.75 euros.
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