Osram and AMS say takeover talks are constructive


© Reuters. The headquarters of lamp manufacturer Osram is pictured in Munich

FRANKFURT (Reuters) – Osram (DE:) and AMS (S:) said on Wednesday that talks about a takeover of the German lighting group by the Austrian sensor maker were progressing.

Earlier this week, Osram said it would consider a takeover by AMS that trumps a competing bid by Bain and Carlyle (O:) with a cash offer valuing it at 4.3 billion euros (£3.9 billion).

Osram on Wednesday called the negotiations “constructive”, while AMS said talks were “moving ahead in good faith”.

Both companies said that they aim to start the tender period for the offer before the end of Sept. 5.

“Osram and AMS have held constructive discussions on a business combination agreement and on other topics since Tuesday and will continue to do so,” Osram said in a statement.

It said that its management and supervisory boards would review the agreement “in the near term” and decide whether to proceed by lifting a standstill agreement.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.

READ  Equinor's Mariner oilfield startup to be delayed until fourth quarter 2019 - sources





READ SOURCE

LEAVE A REPLY

Please enter your comment!
Please enter your name here