Austrian sensor specialist AMS failed in its 4.5 billion euro takeover attempt of Osram Licht but said on Oct. 4 it would continue its pursuit of the German lighting group.
AMS had raised its initial 38.50 euros per share offer to 41 euros to ward off a potential rival bid from Advent International and Bain Capital, but only managed to secure 51.6% support from Osram shareholders, below the required 62.5% threshold. Osram shares fell 4% to 39.20 euros by 0723 GMT on Oct. 7. AMS shares rose more than 3% in early trade before going into reverse. They were down 1.5% at 44 Swiss francs by 0737 GMT.
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