Austrian sensor maker and Apple supplier AMS triggered a bidding war for the German lighting group Osram, trumping a bid by Bain Capital and Carlyle with a cash offer valuing the company at 4.3 billion euros ($4.8 billion).
AMS said it could create a global heavyweight in sensors and photonics with the acquisition of Osram, a leader in automotive lighting technology whose share price has been depressed by profit warnings, doubts over its strategy and a weak car market.
The offer, which is subject to Osram waiving a standstill agreement, would beat Bain Capital and Carlyle’s 4 billion-euro bid that has been recommended by Osram’s boards but slammed as too low by its biggest shareholder Allianz Global Investors.
MacDailyNews Take: AMS has for some time now been looking for ways to diversify in order to lessen their heavy dependence on Apple whos eorders account for some 40% of revenue, according to analyst estimates quoted bu Reuters.
