AMS gathers partners to fund Osram bid

Osram

Austrian optical sensor manufacturer, AMS AG said it is still serious with its bid to acquire OSRAM Licht.

AMS said it has gathered partners that will assist in funding the acquisition.

Last week, we reported that AMS counter bid for OSRAM, a week after the lighting company confirmed it received an offer from a consortium led by Bain Capital and the Carlyle Group to acquire the company.

AMS said in a statement that 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.”

According to its offer, AMS bid to buy the lighting company for 38.50 euros ($43.08) per share.

Osram is yet to make any decision but the struggling lighting maker needs a bailout after its revenue was harshly impacted by the slow down in the global auto market.