Austrian sensor specialist AMS triggered a bidding war for Osram on Sunday, sayi...
FILE PHOTO: CEO of lamp manufacturer Osram Olaf Berlien poses during the opening of the company 'World of light' showroom in Munich, Germany, October 24, 2017. REUTERS/Michaela Rehle/File Photo
Osram, which is grappling with weakness in the automotive industry and a broader economic slowdown, had sparked bidding interest because of its potential as a supplier for connected and autonomous cars. AMS said on Sunday it had submitted a proposal to Osram for an all-cash takeover offer at a price of 38.50 euros per share. Including debt, the offer values the German group at 4.3 billion euros, it said.An Osram spokesman said that the group had taken note of the announcement, but had no comment yet. A spokesman for Bain and Carlyle declined to comment.
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