Austria’s AMS makes counter bid for OSRAM

Osram

German lighting and bulb company, OSRAM Licht has just received a counter bid from AMS to take over the company.

The counter bid from the Austrian company is coming just over a week after OSRAM confirmed it received an offer from a consortium led by Bain Capital and the Carlyle Group to acquire the company.

According to a report by Reuters, AMS is offering 38.50 euros which is about $43.32 per share.

However, Bain and Carlyle’s offer values Osram at an equity value of 3.4 billion euros and an enterprise value of roughly 4 billion euros. Bain and Carlyle have announced a minimum acceptance threshold of 70 percent.

However, Osram said in a statement that: “On the basis of the information as per today, the Managing Board of Osram Licht AG does regard the probability of this transaction materializing as rather low.”

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