07 Oct 2019
Group to soon present an update to the latest Osram strategy; new "anchor shareholder" ams is invited to talks.Osram has announced that it will “steadfastly continue its transformation to a high-tech photonics company,” in the light of recent attempts to take over the diverse photonics lighting and sources company.
“Following the failure of the recent takeover attempts, we are now retaining our independence and will shape our own future”, said Olaf Berlien, CEO of Osram Licht AG.
“Our strategy is the right path to medium- and long-term growth. The final bid of €41 per share clearly shows the value attached to our company, even in the current difficult economic environment.”
Osram’s October 4th statement said, “In ams, which has acquired almost 20 percent of the company's shares in recent weeks, Osram has now gained a new anchor investor.
“Osram management is therefore inviting ams management to engage in discussions on the nature of a meaningful and mutually beneficial collaboration within the framework of legal requirements.”
Financial investors Advent and Bain Capital are currently inspecting the books with a view to also submitting an offer for Osram, which added, “Irrespective of the outcome of this inspection and irrespective of the talks with ams, Osram will steadfastly continue its transformation to a high-tech photonics company and will soon present an update to the corporate strategy announced in November 2018 which the Managing Board and the Supervisory Board have begun to prepare in parallel with the bidding process.”
Update - next month
Osram is focusing primarily on the following areas: streamlining of its product portfolio, rapid expansion of future-oriented products, optimization of all business areas and improvement of profitability.
November 12th, 2019, is the scheduled date for the presentation of the figures for the fiscal year just ended (as of September 30). The company will then also be outlining what it is calling “the new Osram plan”, presenting an outlook for 2020, and announcing details of its further transformation to a semiconductor-based high-tech photonics company.