Advent and Bain Capital up their offer to acquire Osram

September 30, 2019 //By Julien Happich
The fate of Osram is still undecided, yet share value increases: A consortium comprising of Advent and Bain Capital wrote to Osram it would be willing to make a new takeover offer for all outstanding shares of Osram Licht AG, this time, at a premium over ams’ recent offer.

Last July, Bain and Carlyle had offered to acquire the company for the price of 35 euros per share, supporting the strategy of the management in the ongoing transformation of the company as a high-tech photonics company. Then in August, Osram was in negotiation with Austrian sensors manufacturer ams AG to be taken over at 38.50 euros per share.

In its letter to the Managing Board of Osram, the consortium has indicated it may offer a “meaningful” premium over the current offer from ams AG of 38.50 euros per share. The potential bidders have also indicated that they are working on a new financing structure for the possible transaction.

Advent and Bain intend their binding offer to be superior to that of ams AG in terms not only of the offer price but also the strategy and growth prospects for Osram.
In the event of a binding offer, the new consortium has indicated it would be willing to sign an investor agreement similar to that signed by Bain and Carlyle and to support the strategy of the management in the ongoing transformation of the company.

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