AMS Falls Short in Osram Takeover Bid

Austria’s sensors supplier AMS AG says it has failed to attract the 62.5% of shares in Osram Light AG necessary to acquire the German lighting systems supplier.

AMS submitted its €3.7 billion ($4.2 billion) bid in August after Osram rejected an earlier offer. The Austrian company says it intends to continue to pursue the purchase.

Last week Osram announced that Advent International and Bain Capital plan to submit an offer richer than the €38.50 per share AMS bid.