Austrian sensing company AMS won their bid on Osram last December, but it’s taken until this past week for the European Commission to approve their acquisition of Osram. With that approval granted on 6 July, AMS completed the deal three days later on the 9th.
The EC concluded that the transaction wouldn’t raise any competition concerns in the European Economic Area, noting that neither company held sufficiently large market power to cause concern, and concluding that the the typically rapid evolution of products in the optoelectronics sector and the sophisticated nature of product buyers will help maintain genuine competition.
With the buyout approved, AMS paid their offer price of €41 per share to holders of the Osram shares tendered for sale, raising AMS’ total stake from 23 to 69 per cent.
“The European Union regulatory approval constituted the last remaining condition precedent for closing the transaction which is now fulfilled”, AMS stated, adding that they are “excited about this success and looks forward to creating a worldwide leader in sensor solutions and photonics through the combination of AMS and Osram”.
AMS CEO Alexander Everke said “Firmly rooted in Europe, we will leverage the strong technology, intellectual property, and market position of Osram in combination with ams and are convinced of our potential to become a world leader in the optical space”.