After Osram agreed to waive the standstill agreement with AMS, the Austrian company made a counter offer with the price of EUR 38.5 per share in cash to take over the German firm on September 3, 2019. Shareholders of Osram have an acceptance period until October 2019 to decide on the acquisition plan.

The offer of AMS raised a bidding war with Bain Capital and The Carlyle Group, who proposed a takeover offer of EUR 35 per share to acquire Osram. AMS underlined that “our offer and the combination of Osram and AMS represents a better option to all stakeholders than the private equity proposal.”

According to the report of Reuters, Bain Capital and Carlyle Group have considered to raise their bid in August. However, the two companies did not commended following AMS’ announcement.

AMS noted that Osram’ shareholders who already have decided to tender into the lower offer from Bain Capital and The Carlyle Group, can withdraw and retender their share into the new offer.

Osarm and AMS have agreed to axe the IoT lighting business and focus on sensor solution photonics with the takeover offer. By acquiring Osram, the Austrian company aims to extend its strength in automotive technologies including LiDAR and Micro LED display systems.

(Image: Osram)