Osram: talks with AMS deemed 'constructive'
(CercleFinance.com) - Osram said on Wednesday that its merger talks with the Austrian sensor manufacturer ams have proved "constructive" so far.
The German lighting group says that the talks, which began last Tuesday, are set to continue, aiming for ams to make a takeover bid before the end of the current offer from Bain Capital and Carlyle, i.e. by 5 September.
Beyond the strictly financial terms of the deal, Osram says that it attaches great importance to the industrial project carried by ams, at a time when the lighting specialist is seeking to transform itself into a hi-tech company specialised in photonic components that are based on semiconductors.
ams - which is offering 38.5 euros per share against 35 euros for Bain and Carlyle - has no right to buy Osram shares until an agreement in principle has been reached with the Munich based group.
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