Austrian sensor manufacturer and Apple supplier AMS triggered a bidding war for German lighting group Osram, trumpeting a bid from Bain Capital and Carlyle with a cash offer that valued the company at $ 4.3 billion ($ 4.8 billion) .
Kirsti Knolle for Reuters:
AMS said it could create a global heavyweight in sensors and photonics with the acquisition of Osram, a leader in car lighting technology whose stock price has been depressed by profit warnings, strategy doubts and a weak car market.
The offer, subject to Osram waiving a stagnant deal, would beat Bain Capital and Carlyle's $ 4 billion bid that has been recommended by Osram's board of directors, but narrowly too low by the largest shareholder Allianz Global Investors.
MacDailyNews Take: For some time now, AMS has been looking for ways to diversify to reduce its heavy reliance on Apple as eorders account for about 40% of revenue, according to analysts' estimates quoted by Reuters .