AMS hails Osram victory with second $5.1 bn bid

VIENNA: Austrian sensor specialist AMS said it had succeeded at its second attempt with a 4.6 billion euro ($5.1 billion) bid for Osram on Friday, gaining more than 55 per cent of the German lighting group’s shares. AMS, which supplies Apple with sensors for iPhones such as those used for facial recognition, wants to build a leader in integrated sensors and lights with a focus on the highly competitive market for self-driving cars. A first offer by AMS at the same price of 41 euros per Osram share in October failed. It lowered the necessary acceptance rate to 55 per cent in its second attempt from the 62.5 per cent it had missed. “We have been successful in achieving the minimum acceptance threshold in our offer for Osram,” AMS said in a statement. — Reuters