OSRAM ADVISE SHAREHOLDERS TO ACCEPT AMS BID

OE manufacturer Osram has advised shareholders to accept a deal offered by Austrian semiconductor firm AMS.

The offer of €38.50 per share is greater than an earlier offer made by P.E firms Bain Capital and Carlisle, plus Osram’s board believes that AMS’ experience with microchip development will benefit the company in the future.

READ: NEW €4bn+ BID FOR OSRAM

However, not everyone is convinced. One of Germany’s largest trade unions had already rejected the bid and in a joint reasoned statement, Osram’s board has raised concerns over where the new company will be based and be structured.

READ: OSRAM LATEST: WORKERS UNION REJECTS AMS BID

Osram recommends shareholders accept takeover bid

Taking the view that ‘The financial attractiveness of the offer was to be weighted higher than points of criticism’. Osram has recommended that the offer be accepted.  “Overall, the Management Board and the majority of the Supervisory Board regard the strategy pursued by ams as promising in many respects, particularly with regard to the further development of the Opto Semiconductors business unit. By merging with AMS, this business unit could benefit from the development of innovative sensor and photonics solutions, and the use of established customer access, among other things” the company said in a statement.

 

 

Published by GregWhitaker

Editor of CAT Magazine and an experienced motoring journalist

ECP BOSS WARNS OF BLOCK EXEMPTION ‘EXISTENTIAL THREAT’

Andy Hamilton rails against VM ‘mini monopolies’ and demands that the UK government and the CMA take action in face of ‘abuse’ of the rules

Read More

PRA BOSS CALLS FOR FORECOURT ‘PINGDEMIC’ EXCLUSION

‘Forecourt workers are essential and should be exempt from self-isolation requirements if fully vaccinated’, say PRA

Read More

YORKSHIRE EXHAUST SPECIALISTS SAY ‘YES’ TO AAG BUYOUT

Leeds-based firm had been a UAN member and employed over 60 people

Read More

NEW TRADE COALITION FORMED TO FIGHT BLOCK EXEMPTION THREAT

AFCAR comprises of bosses from four major UK trade bodies

Read More

HALFORDS TO HIRE 700 TECHNICIANS

Chain hiring following a busy year for vehicle mobile servicing and pedal cycles

Read More

Go to comments

Your email address will not be published. Required fields are marked *