July 23, 2019 / 6:23 AM / a month ago

Sensor specialist AMS to re-evaluate Osram takeover

FILE PHOTO: The logo of lamp manufacturer Osram is pictured at the headquarters in Munich, Germany February 26, 2014. REUTERS/Michaela Rehle/File Photo

VIENNA (Reuters) - Austrian sensor specialist AMS AG (AMS.S) (AMS.VI) on Tuesday said it had decided to re-evaluate a potential transaction with lighting group Osram Licht (OSRn.DE), only days after pulling back from a takeover approach.

AMS AG (AMS.VI) said a week ago it did not see “sufficient basis” for continuing its discussions with the German technology company, after approaching Osram to discuss a non-binding takeover offer of 38.50 euros ($43.08) per share, sparking a potential bidding war for the German company.

“AMS was recently approached by potential financial partners and has exchanged views which confirm its belief that AMS can arrange prudent and committed financing for this potential transaction,” the group said.

Shares in AMS (AMS.S) were up 9% in premarket trade.

Reporting by Kirsti Knolle, editing by Riham Alkousaa

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