AMS has reiterated its bid offer on OSRAM at €41/share (all cash), but has lowered the acceptance threshold to 55% from 62.5% after having failed in the previous attempt at 51.6%. We believe that this new challenge should be easier given AMS is now OSRAM’s largest shareholder. We are cautious on the stock in the short term given the stretched balance sheet, but we remain positive on the company’s long-term perspective.
20 Oct 2019
Episode #2: new offer with lower acceptance threshold
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Episode #2: new offer with lower acceptance threshold
ams-OSRAM AG (0QWC:LON) | 0 0 (-2.9%) | Mkt Cap: 9,345m
- Published:
20 Oct 2019 -
Author:
Hugo Paternoster -
Pages:
3
AMS has reiterated its bid offer on OSRAM at €41/share (all cash), but has lowered the acceptance threshold to 55% from 62.5% after having failed in the previous attempt at 51.6%. We believe that this new challenge should be easier given AMS is now OSRAM’s largest shareholder. We are cautious on the stock in the short term given the stretched balance sheet, but we remain positive on the company’s long-term perspective.