|Bid||0.00 x 25900|
|Ask||0.00 x 17000|
|Day's Range||37.99 - 38.89|
|52 Week Range||24.60 - 41.30|
|Beta (3Y Monthly)||0.70|
|PE Ratio (TTM)||N/A|
|Earnings Date||Feb 6, 2020|
|Forward Dividend & Yield||1.11 (2.90%)|
|1y Target Est||42.81|
Following the successful takeover offer from ams AG, Osram’s Managing Board has invited the management of ams to make the journey together to becoming a global technology leader for sensor solutions and photonics on the basis of the Business Combination Agreement. Unchanged, management’s focus is aligned with the shareholders, the company and its employees. Following a value-oriented takeover process, Osram shareholders will receive 41 euros per share, representing a markup of 42 percent since the start of the process. "What is important now is to create a world class photonics and sensor champion together with ams," said Olaf Berlien, CEO of OSRAM Licht AG. "We would like to thank the Osram shareholders for supporting the compelling strategic merits of this transaction," says Alexander Everke, CEO of ams. "We look forward to working closely with the OSRAM management team and all OSRAM stakeholders to realize the successful combination and achieve our shared objective of a European based global leader in sensor solutions and photonics."
for the struggling lighting and sensor technology company Osram after a last-minute attempt to persuade retail investors and dozens of hedge-funds to tender their shares. With the smartphone market reaching maturity, AMS saw Osram, which has a strong car parts business, as a way of diversifying its business. It also hoped to combine the companies’ complementary technologies and exploit Osram’s expertise in LED lights.
(Bloomberg) -- Want the lowdown on European markets? In your inbox before the open, every day. Sign up here.Osram Licht AG gave its backing to a $4.4 billion takeover offer from AMS AG after reaching an agreement with the Austrian sensor maker that will protect workers from merger-related layoffs until 2022.The German car-part maker’s board recommended Tuesday that investors accept the proposal of 41 euros a share in cash, saying it “represents an appropriate valuation.” Munich-based Osram also reported better-than-expected fourth-quarter earnings, while pushing back mid-term targets.The decision to back a deal with rival AMS marks a step forward in the months-long takeover battle. AMS’s offer running until Dec. 5 is its third attempt to acquire Osram, which has suffered amid a slump in the automotive industry. Although holding firm on the price, AMS has lowered the minimum acceptance threshold to 55% to make it easier to get a deal over the line.AMS successfully beat off rival suitors Bain Capital and Advent International and has amassed an almost 20% holding in Osram to strengthen its footing. The tussle for control of the former Siemens AG lighting division was sparked by a series of profit warnings after Osram pushed aggressively into the car sector, and found itself overexposed to an industry slump.“2019 was certainly one of the hardest years for us in recent history,” Chief Executive Officer Olaf Berlien said on a conference call. “We’re staying cautiously optimistic about 2020.”Job CutsWhile Osram reported better-than-expected fourth-quarter adjusted earnings before interest, taxes, depreciation and amortization, the company pushed back by two years its mid-term financial goals. The company also needs to cut an undetermined number of staff to adjust to address to structural changes in the industry, Berlien said.“We need to permanently adjust personnel,” Berlien said. “In the last year we adjusted by 2,300 workers. That’s continuing and there’s no set number right now.”Osram shares were little changed at 40.16 euros as of 10:56 a.m. in Frankfurt, giving it a market value of about 3.9 billion euros.For the 2020 fiscal year, the company expects a “moderate change” in revenue, in the range of minus 3% to 3% growth, and an adjusted Ebitda margin between 9% and 11%.The guidance suggests “very limited” operational improvement and “raises questions on the long term potential of the company,” Morgan Stanley analysts including Lucie Carrier wrote in a report.Osram’s labor representatives have come out against a deal with AMS out of concern for the company’s 24,000 workers and restructuring plan.Read more: Osram’s Top Labor Leader Urges German Watchdog to Block AMS BidThe IG Metall union contends that the company plans about 800 job cuts in Germany, or about 14% of the total.“With the so-called efficiency program, the Osram executive board endangers the future of Osram,” Klaus Abel, vice chairman and first IG Metall representative of the supervisory board, said in an emailed statement.(Updates CEO comment from fifth paragraph; union statement)To contact the reporter on this story: Oliver Sachgau in Munich at firstname.lastname@example.orgTo contact the editors responsible for this story: Anthony Palazzo at email@example.com, Tara Patel, Andrew NoëlFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
Under the business combination deal struck with Ams, Osram’s employees are protected from layoffs for about three years if a deal goes through.
AMS launched a renewed $5 billion takeover bid for Osram on Thursday, hoping a lower shareholder acceptance requirement will be enough to secure its acquisition of the German lighting company. The Austrian smartphone sensor supplier is still offering the same price of €41 a share, but it now only needs support from 55% of Osram (DE:OSR) shareholders to succeed, compared with the 62.5% approval it had previously required. In October, only 51.6% of Osram investors backed the offer, including AMS (AT:AMS) itself, which accumulated a 20% stake in the business, becoming its largest shareholder in the run up to the vote.
Austrian sensor company AMS launched a new takeover bid for Germany Osram Licht , offering 41 euros a share and setting a lower minimum acceptance threshold of 55% for the deal to go through. Osram welcomed the offer, saying it was in constructive discussions with AMS, after rivals Advent and Bain Capital dropped out of contention. AMS, maker of the sensor array that unlocks the Apple iPhone using facial recognition, built up a stake of 19.99% in Osram via an earlier offer at the same valuation that failed to win the support of enough shareholders.
Shares in Apple supplier AMS slid on Monday after investors were spooked by the company’s commitment to buying German lighting firm Osram, despite a failed takeover bid.
Austria semiconductor group says an extraordinary shareholder meeting at the end of October is expected to vote on the approval of a 1.5 billion-euro ($1.66 billion) equity issuance.
Austrian sensor specialist AMS made a 4.3 billion euro($4.8 billion) counter-offer for larger German lighting group Osram on Tuesday, raising the prospect of a bidding war with private equity duo Bain Capital and Carlyle . AMS made its 38.50 euro ($42.90) per share offer for Osram, which is 10% above the price offered by the buyout firms, after approval from German finance watchdog Bafin, adding that the acceptance period will run from Sept. 3 until Oct. 1. The bid automatically extends the period for the offer by Bain Capital and Carlyle Group.
Shares in German lighting specialist Osram Licht were indicated 12% higher in Frankfurt early trading after rival AMS launched a 38.50 euros ($43.13) a share takeover designed to trump a rival 35-euros-a-share offer from Bain and Carlyle. Austria's AMS triggered a bidding war by saying it was ready to pay $3.8 billion for the German lighting group's shares, a 10% premium over what finance investors Bain Capital and Carlyle have already offered. Osram, which is grappling with weakness in the automotive industry and a broader economic slowdown, had sparked bidding interest because of its potential as a supplier for connected and autonomous cars.