7/16, 5:52 AM (Source: TeleTrader)
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AMS walks away from €4.3B Osram takeover bid

AMS AG acknowledged that it approached Lighting systems maker Osram Licht AG on the issue of a potential buyout, but that it does not see a "sufficient basis" for continuing these discussions.

Reportedly, AMS's bid for the Munich-based firm was initially set at €38.5 per share, which would translate to €3.74 billion in equity and €4.3 billion in enterprise value. After that, Osram's management stated that the chances of a transaction after a preliminary expression of interest by AMS were "rather low."

In February, media reported that Bain Capital LP and Carlyle Group were conducting takeover negotiations with Osram, valuing the company 10% lower than the recent AMS offer.

Breaking the News / MA