Osram in constructive negotiations with ams

2019/08/14

- Osram and ams are currently negotiating a Business Combination Agreement
- Osram Managing Board and Supervisory Board to deal with this topic in the near term
- The aim is a publication of ams' takeover offer before the end of September 5


Osram and ams have held constructive discussions on a Business Combination Agreement and on other topics since Tuesday and will continue to do so. Both parties will continue to carefully assess the details of such an agreement, which is a prerequisite for a takeover by ams. The common goal is that ams will be able to start its tender period during the offer period of the existing takeover offer from the financial investors Bain Capital and The Carlyle Group, thus before the end of September 5, 2019.


Last Sunday, ams AG submitted a proposal to Osram for a takeover offer of EUR 38.50 per share for all outstanding shares in OSRAM Licht AG. The submission of the offer to the relevant Federal Financial Supervisory Authority BaFin, is subject to the condition that Osram waives an existing standstill agreement which currently prohibits ams to acquire Osram shares. The agreement had been concluded when the Austrian sensor and chip specialist gained access to Osram's books after it had expressed its takeover interest.

In addition to the offer price and financing concept, a stable environment is important for Osram's further transformation into a semiconductor-based high-tech photonics company. Moreover, it is greatly important to Osram’s Managing Board that all key stakeholders are appropriately protected, in particular the company's employees and the essential parts of the company. Osram and ams are therefore currently negotiating a business combination agreement, which will ensure this. Osram's Managing Board and Supervisory Board will review the Business Combination Agreement currently being negotiated in the near term and then decide whether to waive the standstill agreement. 

 

ABOUT OSRAM

OSRAM, based in Munich, is a leading global high-tech company with a history dating back more than 110 years. Primarily focused on semiconductor-based technologies, our products are used in highly diverse applications ranging from virtual reality to autonomous driving and from smartphones to smart and connected lighting solutions in buildings and cities. OSRAM uses the endless possibilities of light to improve the quality of life for individuals and communities. OSRAM’s innovations enable people all over the world not only to see better, but also to communicate, travel, work and live better. OSRAM has approximately 26,200 employees worldwide as of end of fiscal 2018 (September 30) and generated revenue of more than 3.8 billion euros from continuing activities. The company is listed on the stock exchanges in Frankfurt and Munich (ISIN: DE000LED4000; WKN: LED 400; trading symbol: OSR). Additional information can be found at www.osram.com.

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