Exclusive: AMS to get EU green light for 4.6 billion euro Osram bid - sources
Reuters
Published Jun 26, 2020 12:00PM ET
Updated Jun 26, 2020 12:50PM ET
By Foo Yun Chee
BRUSSELS (Reuters) - Austrian sensor producer AMS (VI:AMS) (S:AMS) is poised to get the go-ahead from the European Union for its acquisition of German lighting group Osram (DE:OSRn), three people familiar with the matter said on Friday.
Osram is a leading maker of car headlights with close ties to carmakers and AMS hopes to combine that with its expertise in sensors to develop packaged solutions for self-driving cars.
AMS supplies Apple (O:AAPL) with sensors for its iPhones and the Osram acquisition, its largest ever, will also help it reduce its dependence on the U.S. firm, its biggest customer.
EU competition enforcers do not see any concerns as the two companies have few overlapping businesses and the merger is expected to get unconditional antitrust clearance, the people said.
The European Commission, which is scheduled to decide on the deal by July 6, declined to comment. AMS was not immediately available for comment.
Get The News You Want
Written By: Reuters
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.