Osram and AMS say takeover talks are constructive


FRANKFURT, Aug 14 (Reuters) - Osram and AMS said on Wednesday that talks about a takeover of the German lighting group by the Austrian sensor maker were progressing.

Earlier this week, Osram said it would consider a takeover by AMS that trumps a competing bid by Bain and Carlyle with a cash offer valuing it at 4.3 billion euros ($4.79 billion).

Osram on Wednesday called the negotiations "constructive", while AMS said talks were "moving ahead in good faith".

"Osram and AMS have held constructive discussions on a business combination agreement and on other topics since Tuesday and will continue to do so," Osram said in a statement.

It said that its management and supervisory boards would review the agreement "in the near term" and decide whether to proceed by lifting a standstill agreement.

($1 = 0.8977 euros)

This article appears in: World Markets , Stocks
Referenced Symbols: AMS ,

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