It might take a few days to learn the final result. And a fresh offer could still be possible, as rival suitor Bain continues to show interest.
Mark Halper Oct 2nd, 2019
Midnight has come and gone in Austria and Germany, and Osram has not changed hands. (Photo credit: Image by Steve Buissinne via Pixabay; used under free license for commercial/editorial purposes.)The deadline for ams AG to acquire Osram expired last night at midnight, and at the moment the company appears to have fallen way short in its bid, although the final tally is not yet known.
The Austrian sensor maker is trying to acquire Munich-based Osram through the stock market, where it was seeking a minimum of 62.5% of shares by midnight central Europe time yesterday.
With the witching hour having come and gone, Osram told LEDs Magazine today that ams had acquired 20% and received commitments for another 9%, bringing the total to 29% — way off the 62.5% target.
However, because of lags in the buying and selling system, the final total could be higher.
“We expect ams to know about the tender activities by Friday this week,” the spokesperson said.
AMS, based in Premstaetten, Austria, had not responded to LEDs by the time this story posted.
The company had last week increased its offer to a “best and final” €41 ($44.89) per share, up €2.50 from an earlier €38.50 ($42.16) per share. Earlier in the month it had also lowe…
