Osram: Advent and Bain Capital make counterbid

(CercleFinance.com) - US private equity firms Advent and Bain Capital have made a counter-bid for German lighting group Osram today, raising the prospect of a battle with other bidders.


In a statement, Osram said that Advent and Bain Capital said they may offer a "meaningful premium" over the current offer from Austrian sensor maker ams of 38.50 euros per share.

As a reminder, Bain Capital had already submitted an initial offer together with partner Carlyle in July, at a price of 35 euros per share.

Advent and Bain said they planned to conduct "due diligence" in the coming weeks, before deciding on a binding offer.

The two investment firms said they intend to make a higher bid than that of ams - not only in terms of the offer price, but also the strategy and growth prospects for Osram, a point on which the Munich-based group has always been attached to.

The Osram share is currently trading up 2% at 38.8 euros in Frankfurt.

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