August 12, 2019 / 7:00 AM / a month ago

Austria's AMS aims to wrap up Osram takeover in first half of 2020

A woman walks in the headquarters of lamp manufacturer Osram in Munich, Germany February 26, 2014. REUTERS/Michaela Rehle/File Photo

VIENNA (Reuters) - Austrian sensor specialist AMS (AMS.S) aims to wrap up its planned takeover of German lighting group Osram (OSRn.DE) in the first half next year, its chief executive said on Monday.

The Swiss-listed group on Sunday triggered a bidding war for Osram, saying it was ready to pay $3.8 billion for Osram’s shares, 10% more than finance investors Bain Capital and Carlyle (CG.O) have already offered.

“We plan to hold a shareholder meeting to approve to rights issue in the fourth quarter this year and we expect to close the (Osram) transaction in the first half 2020,” Alexander Everke said in a conference call.

Reporting by Kirsti Knolle; Editing by Edward Taylor

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