Allianz is not satisfied with Bain&Carlyle offer

In Corporate
August 8, 2019
A

Allianz Global Investors, the largest shareholder of Osram Licht, has refused the offer of investors Bain and Carlyle for the lighting company. The report put heavy pressure on the price of the Osram share in Frankfurt.

Bain Capital and Carlyle Group offer 3.4 billion euros for Osram. Allianz called this proposal “ridiculously low”. Because the asset manager holds more than 9 percent of the Osram shares, it becomes difficult for investors to gather sufficient support from other shareholders. The offer is on the table until the beginning of September. The Osram board is behind the price that Bain and Carlyle are paying for the company.

Furthermore, the Austrian sensor maker AMS also seems interested in the lighting company. The first bid of the Austrians was higher than that of Bain and Carlyle. Whether and when AMS makes a decision to bid again is unclear.

By: Maurice Eisma

Maurice Esma, a co-founder of EconomicInform is a freelance journalist with the expertise in international finance and corporate rights. The author can be reached by email maurice.eisma@economicinform.com

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