Apple supplier AMS re-opens door on Osram bid, shares jump

Apple supplier AMS kept alive the prospect of a counter-bid for German lighting group Osram on Tuesday, as the Austrian company predicted demand for its optical sensors would continue to recover in the third quarter.

Kirsti Knolle for Reuters:

AMS said a week ago it did not see “sufficient basis” for continuing its talks with Osram, after approaching the German technology company with a non-binding takeover offer of 38.50 euros per share, or about 3.7 billion euros ($4.1 billion).

However, Swiss-listed AMS said on Tuesday it had been approached by potential financial partners and had exchanged views “which confirm its belief that AMS can arrange prudent and committed financing for this potential transaction.”

AMS’s shares jumped 10% in early trading to a nine-month-high. Osram shares were up 3%. Other European chipmakers including STMicroelectronics and Dialog Semiconductor also gained, helped by news that Apple is in talks to buy Intel’s smartphone-modem chip business.

MacDailyNews Take: TrueDepth Camera system component maker AMS needs to cut down on the flip-flopping. It leads to shareholders having to ride out some pretty crazy volatility. Of course, savvy investors can also profit from the rollercoaster, too.

Regardless, Apple is creating waves in markets far and wide, as usual!

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