Austrian sensor maker AMS could bypass the 12-month waiting period required by law to launch a new bid for Germany’s Osram if it sets up a new entity for the deal, German watchdog Bafin said on Tuesday.
AMS’ 4.5 billion euro ($4.9 billion) takeover attempt for the German lighting company failed last Friday, but it vowed to pursue the acquisition anyway in order to create a global champion in sensors and lights.
The company had launched its bid via a subsidiary called Opal BidCo, which it founded solely for the purpose of the takeover. The 12-month waiting period required for a second approach applies only to this company, a Bafin spokeswoman said.
The scenario was first outlined in German daily Boersenzeitung.
AMS lawyers have discussed such a move, one person familiar with the matter told Reuters. AMS did not reply to a request for comment.
Source: Reuters.com