October 4, 2019 / 5:01 PM / 5 months ago

Austria's AMS fails to complete 4.5 bln eur takeover of Osram

VIENNA, Oct 4 (Reuters) - Austrian AMS on Friday said it had failed to reach a required threshold for completing a takeover of German lighting group Osram shareholders.

AMS said managed to secure backing from only 51.6% of Osram shareholders, instead of the required 62.5% level.

AMS had fought a fierce takeover battle for the leader in automotive lighting with private equity groups and upped its bid a week ago, days before the acceptance period expired.

Separately, Osram on Friday said it has invited AMS’s management to engage in discussions on a meaningful and mutually beneficial collaboration. ($1 = 0.9104 euros) (Reporting by Kirsti Knolle Editing by Edward Taylor)

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