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The Austrian chip maker AMS AG has reiterated its bid to buy the German group of lighting technologies and chips, Osram Licht, stating that it had "decided to reevaluate a potential deal" a few days after his departure.
AMS said although it did not find a "sufficient basis" to continue discussions with its biggest rival last week, a combined desire for shareholder value creation and discussions with financial partners potential had had his position reversed.
This announcement marks the second half-turn of the Austrian group in seven days. She came on the scene earlier this month. She took an unsolicited takeover approach a few days after Osram had agreed to sell 3.4 billion euros to private equity groups Bain Capital and Carlyle.
Last Tuesday, he withdrew his offer to purchase € 38.50, which aimed to break the consortium's agreed offer of € 35 per share, claiming that he did not see enough base for continue negotiations.
AMS stated that it requires M & A transactions to be "strategically persuasive and undeniably rewarding, and for larger, financially accretive transactions achievable with a sustainable capital structure and a suitable financial model. ".
"In this context and under the circumstances of the time, AMS did not find the sufficient basis for further discussions last week," the text adds.
However, in line with a strategy of continuously evaluating opportunities and being approached by potential funders, the group said it now thought it could "arrange cautious and committed funding for this potential transaction."
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