Renewable Energy

Osram supervisory board to meet to discuss Bain, Carlyle offer -sources

Credit: REUTERS/MICHAELA REHLE

German lighting group Osram's supervisory board is convening an extraordinary meeting on Thursday to discuss a takover offer from private equity firms Bain and Carlyle, sources close to the matter said.

FRANKFURT, July 3 (Reuters) - German lighting group Osram's OSRn.DE supervisory board is convening an extraordinary meeting on Thursday to discuss a takover offer from private equity firms Bain and Carlyle, sources close to the matter said.

The two investors secured financing for an Osram offer in the last few days, one of the sources said, adding that the offer could value the group at about 35 euros a share.

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 up to 100 percent of its shares.

(Reporting by Arno Schuetze, Alexander Hübner, Kathrin Jones, editing by Thomas Escritt)

((arno.schuetze@thomsonreuters.com; +49.69.7565.1197; Reuters Messaging: arno.schuetze.reuters.com@reuters.net))

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