Excerpt of the press release of 11 February 2020:
In October 2019, ams became the largest shareholder of OSRAM with a shareholding of 19.99% and on that basis launched the successful public tender offer for OSRAM in November 2019.
To refinance part the acquisition financing, ams’ Extraordinary General Meeting (EGM) on 24 January 2020 approved a capital increase in form of a rights issue of up to EUR 1.649bn which ams expects to implement in a timely manner. ams is in the process of attaining required merger control clearances for the transaction and currently expects the transaction to close in the second quarter 2020 subject to receipt of these required clearances.
In addition, ams yesterday announced the firm intention to pursue a Domination and Profit and Loss Transfer Agreement with OSRAM to accelerate implementation of the companies’ joint strategic vision. ams will announce further developments related to the transaction in due course.