Bidding War for Osram Heats Up

Osram Licht AG says it expects a new offer by Advent International and Bain Capital to acquire the Munich-based lighting systems supplier.

In August, Bain rejected an offer at €35 per share from a coalition comprising Bain and The Carlyle Group. That bid was bested in August by a revised offer worth €3.7 billion ($4.1 billion) from Austria’s AMS AG (formerly Austriamicrosystems AG) of €38.50 per share.

The new consortium of Advent and Bain intends to submit a new bid that includes a “meaningful” price increase, pending a due diligence review, according to Osram. The consortium says its offer will guarantee jobs and facilities, retain the Osram name and allow Osram to retain all rights to its patents—factors backed by the company’s employees.