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Osram receives non-binding AMS offer designed to trump rival bid

Osram Licht has been approached by Austria's AMS to discuss a non-binding 38.50 euros ($43.32) per share takeover offer, it said on Monday, sparking a potential bid battle for the German lighting company.

Osram says AMS could offer 38.50 euros a share

Bain and Carlyle approach backed by Osram last month

Osram says AMS has secured funding for potential bid

Adds detail

FRANKFURT, July 15 (Reuters) - Osram Licht OSRn.DE has been approached by Austria's AMS AMS.VI to discuss a non-binding 38.50 euros ($43.32) per share takeover offer, it said on Monday, sparking a potential bid battle for the German lighting company.

The AMS offer comes after Osram this month backed an approach from private equity firms Bain and Carlyle at 35 euros per share.

Osram shares closed at 33.14 euros in Frankfurt trading on Monday.

Osram, a technology group that builds microchips, digital lighting systems and sensors for the auto industry, has sparked bidding interest because of its potential as a supplier for connected and autonomous cars.

Osram said AMS had indicated that it could fund a bid thanks to a temporary 4.2 billion euro ($4.7 billion) bridging loan facility and plans for a capital increase.

An AMS representative was not immediately available for comment.

($1 = 0.8887 euros)

(Reporting by Edward Taylor and Alexander Huebner Additional reporting by Francois Murphy Editing by David Goodman)

((Edward.Taylor@thomsonreuters.com; +49 69 7565 1187;))

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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