OSRAM Claims Takeover Attempts have Failed
Osram will steadfastly continue its transformation to a high-tech photonics company. “Following the failure of the recent takeover attempts, we are now retaining our independence and will shape our own future”, said Olaf Berlien, CEO of Osram Licht AG. “Our strategy is the right path to medium- and long-term growth. The final bid of 41 euros per share clearly shows the value attached to our company, even in the current difficult economic environment.” In ams, which has acquired almost 20 percent of Osram shares in recent weeks, Osram has now gained a new anchor investor. Osram management is therefore inviting ams management to engage in discussions on the nature of a meaningful and mutually beneficial collaboration within the framework of legal requirements.
Financial investors Advent and Bain Capital are currently inspecting the books with a view to submitting an offer for Osram. Irrespective of the outcome of this inspection and irrespective of the talks with ams, Osram will steadfastly continue its transformation to a high-tech photonics company and will soon present an update to the corporate strategy announced in November 2018 which the Managing Board and the Supervisory Board have begun to prepare in parallel with the bidding process. Osram is focusing primarily on the following areas: streamlining of the product portfolio, rapid expansion of future-oriented products, optimization of all business areas and improvement of profitability.
November 12, 2019 is the scheduled date for the presentation of the figures for the fiscal year just ended (as of September 30). Osram will also be outlining #The new Osram plan, presenting an outlook for 2020 and announcing details of its further transformation to a semiconductor-based high-tech photonics company.