On July 3, shares in Osram spiked 12% after Reuters reported that private equity firms Bain and Carlyle finalized an offer for the German lighting group. They rose another 4% the next day after Osram confirmed that its board would meet soon to review the offer for 35 euros a share or 3.4 billion euros in total. Osram, which is grappling with weakness in the automotive industry and a broader economic slowdown, said in February that Bain and Carlyle were looking at whether to jointly bid for the group. But weak earnings had led many investors to doubt whether the two private equity firms would eventually go ahead with their offer.
Reuters reveals Osram considering $3.8 billion takeover bid from Bain, Carlyle; market reacts
03 July 2019, 12:00 am 1 minute
Type: Reuters Best
Regions: Europe / Middle East / Africa
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