Osram to investors: Accept AMS offer

Takeover bid: A lit bulb by German lighting manufacturer Osram is seen in front of packages with different Osram bulbs in this picture illustration. AMS launched its 38.50 euro per share offer for the company earlier this month, beating a rival offer from private equity investors Bain Capital and Carlyle Group by 10%. — Reuters

VIENNA: German lighting group Osram has advised its shareholders to accept a €4.3bil takeover bid from AMS and sell their shares to the Austrian sensor specialist, saying the offer was economically attractive.

AMS launched its €38.50 per share offer for the company earlier this month, beating a rival offer from private equity investors Bain Capital and Carlyle Group by 10%.