Austria's AMS aims to wrap up Osram takeover in first half of 2020

August 12, 2019 2:57 AM

VIENNA (Reuters) - Austrian sensor specialist AMS (NYSE: AMS) aims to wrap up its planned takeover of German lighting group Osram in the first half next year, its chief executive said on Monday.

The Swiss-listed group on Sunday triggered a bidding war for Osram, saying it was ready to pay $3.8 billion for Osram's shares, 10% more than finance investors Bain Capital and Carlyle (NASDAQ: CG) have already offered.

"We plan to hold a shareholder meeting to approve to rights issue in the fourth quarter this year and we expect to close the (Osram) transaction in the first half 2020," Alexander Everke said in a conference call.

(Reporting by Kirsti Knolle; Editing by Edward Taylor)