DGAP-Adhoc: OSRAM Licht AG: OSRAM clears way for ams takeover offer and signs cooperation agreement

DGAP-Adhoc: OSRAM Licht AG: OSRAM clears way for ams takeover offer and signs cooperation agreement

WKN: LED400 ISIN: DE000LED4000 OSRAM AG

37,94 EUR
0,04 EUR 0,11 %
23.09.2019 - 09:00
21.08.2019 20:30:20

DGAP-Ad-hoc: OSRAM Licht AG / Key word(s): Offer
OSRAM Licht AG: OSRAM clears way for ams takeover offer and signs cooperation agreement

21-Aug-2019 / 20:30 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.


 

The Managing Board of Osram Licht AG (Osram) has waived the existing standstill agreement with ams AG (ams) and, with the approval of the Supervisory Board, has signed a cooperation agreement providing protection commitments for employees, company sites and key parts of the business.

After careful consideration of the transaction offer, the Managing Board and Supervisory Board of Osram have come to the conclusion that it is particularly in the interest of Osram's shareholders and other stakeholders to waive the existing standstill agreement with ams and to sign a cooperation agreement with ams in order to enable ams to publish the offer.

The offer price is EUR 38.50 per Osram share and is 10% higher than the current offer of the bidding consortium consisting of Bain Capital and The Carlyle Group. ams' offer values Osram with an equity value of approximately EUR 3.7 billion and an enterprise value of approximately EUR 4.3 billion. ams provides for a minimum acceptance threshold of 70 percent, further customary market conditions and an acceptance period running presumably until the beginning of October 2019. The acceptance threshold does not include the treasury shares of Osram.

The offer document will be published at a later date by Opal BidCo GmbH, a holding company of ams AG, in accordance with the provisions of the German Securities Acquisition and Takeover Act (Wertpapiererwerbs- und Übernahmegesetz - WpÜG) after approval by the Federal Financial Supervisory Authority (Bundesanstalt für Finanzdienstleistungsaufsicht - BaFin). After publication, the Managing Board and Supervisory Board will carefully review the offer document and issue a reasoned opinion pursuant to Section 27 WpÜG. If the offer document is published by ams before expiry of the acceptance period of the current offer of the bidder consortium consisting of Bain Capital and The Carlyle Group, those shareholders who have already tendered their shares may withdraw from the acceptance of the offer and accept the offer of ams.



Contact:
Juliana Baron
Head of Investor Relations

OSRAM Licht AG
Investor Relations
Marcel-Breuer-Straße 6
80807 München, Deutschland
Tel. +49 89 6213-3030img
mailto:j.baron@osram.com
www.osram.com

21-Aug-2019 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.dgap.de


Language: English
Company: OSRAM Licht AG
Marcel-Breuer-Straße 6
80807 München
Germany
Phone: +49 89 6213-0
Fax: +49 89 6213-3629
E-mail: ir@osram.com
Internet: www.osram-group.com
ISIN: DE000LED4000
WKN: LED400
Indices: MDAX
Listed: Regulated Market in Frankfurt (Prime Standard), Munich; Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Stuttgart, Tradegate Exchange
EQS News ID: 861221

 
End of Announcement DGAP News Service

861221  21-Aug-2019 CET/CEST

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