Business News | Osram | Nov 14, 2019

Osram Recommends Current Takeover Offer from ams

Osram has concluded a comprehensive business combination agreement with ams and recommends its shareholders accept the current takeover offer. "After intensive negotiations, we have agreed on many decisive framework conditions for the future of Osram and our employees," said Olaf Berlien, CEO of OSRAM Licht AG. "The most important thing is that the employees at German locations are protected from merger-related layoffs until the end of 2022.” In addition, the strong Osram brand is to be reflected in the company name of the new group. The sensor specialist ams explicitly supports the photonics strategy of Osram.

Osram and ams have agreed on important points for the integration of Osram into the joint group. For example, employees are protected from merger-related layoffs until the end of 2022 at German locations, and approximately half of the central functions would be managed from the Munich location as the co-group headquarters. Brigitte Ederer, former member of the Executive Board of Siemens AG and former Chairman of the Supervisory Board of Austrian rail operator ÖBB, will monitor and enforce the merger of the two companies as an independent monitor.

After concluding the business combination agreement, the Supervisory Board and the Executive Board recommend the present takeover offer of the Austrian sensor manufacturer ams to the Osram shareholders. The offer price of 41 euros per share in cash represents an appropriate valuation of the company from the point of view of the boards, as stated in the reasoned opinion. The offer is attractive for the shareholders. They have time until December 5, 2019, to accept the offer.

Takeover Offer...

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