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Ams and Osram conclude domination agreement – Reuters UK


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Ams and Osram conclude domination agreement – Reuters UK

BERLIN (Reuters) – Austrian sensor maker ams AMS.VI said on Tuesday it had signed a so-called domination and profit and loss transfer agreement (DPLTA) with Osram OSRn.DE, in a key step towards closing out its 4.6 billion euro ($5.4 billion) takeover of the German firm.Implementing the agreement “will enable the swift and successful integration of…

Ams and Osram conclude domination agreement – Reuters UK

BERLIN (Reuters) – Austrian sensor maker ams AMS.VI said on Tuesday it had signed a so-called domination and profit and loss transfer agreement (DPLTA) with Osram OSRn.DE, in a key step towards closing out its 4.6 billion euro ($5.4 billion) takeover of the German firm.

Implementing the agreement “will enable the swift and successful integration of ams and Osram into a combined company that offers profitable growth for the long term”, ams CEO Alexander Everke said in a statement.

To take effect, the agreement will require the support of 75% of shareholders at an extraordinary general meeting planned on Nov. 3. Ams already owns 71% of Osram.

The domination agreement foresees an offer to buy out outside shareholders at 44.65 euros per share. It also contains annual recurring compensation of 2.24 euros.

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Osram shares closed on Tuesday at 43.40 euros.

Reporting by Douglas Busvine; Editing by Alexandra Hudson

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