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    Breaking News

    Osram Recommends ams' Current Takeover Offer

    Employees protected against merger-related layoffs until the end of 2022.

    Osram Recommends ams
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    11.12.19
    Osram said it concluded a comprehensive business combination agreement with ams and recommends its shareholders accept the current takeover offer.

    "After intensive negotiations, we have agreed on many decisive framework conditions for the future of Osram and our employees," said Olaf Berlien, CEO of OSRAM Licht AG. "The most important thing is that the employees at German locations are protected from merger-related layoffs until the end of 2022.”

    In addition, the Osram brand is to be reflected in the company name of the new group. The sensor specialist ams explicitly supports the photonics strategy of Osram.

    Osram and ams have agreed on important points for the integration of Osram into the joint group. For example, employees are protected from merger-related layoffs until the end of 2022 at German locations, and approximately half of the central functions would be managed from the Munich location as the co-group headquarters. Brigitte Ederer, former member of the Executive Board of Siemens AG and former Chairman of the Supervisory Board of Austrian rail operator ÖBB, will monitor and enforce the merger of the two companies as an independent monitor.

    After concluding the business combination agreement, the Supervisory Board and the Executive Board recommend the present takeover offer of ams to the Osram shareholders. The offer price of €41 per share in cash represents an appropriate valuation of the company from the point of view of the boards, as stated in the reasoned opinion. Shareholders have until Dec. 5, 2019, to accept the offer.
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