Osram says Advent, Bain Capital do not plan takeover offer for time being
Osram Licht AG announced that the company received a letter from the consortium consisting of the financial investors Advent and Bain Capital. "According to that letter, Bain Capital and Advent have decided to not conduct any further due diligence. For the time being, the plan to submit a voluntary public takeover offer for all outstanding Osram shares will not be pursued further. The consortium said that they currently do not see a successful path to an offer. In the last days, Osram engaged in constructive discussions with ams AG about the conditions for a new takeover offer. The Managing Board welcomes the progress made to far and is confident that both parties can agree on a future oriented strategic concept. Osram will further inform the capital market in due course about the progress of this development," the company stated.