EU to rule on AMS’s 4.6 billion euro bid for Osram by July 6

Via Reuters Finance

The broken filament of a lightbulb by lighting manufacturer Osram is pictured in Zurich, Switzerland May 13, 2020. REUTERS/Arnd Wiegmann

BRUSSELS (Reuters) – EU antitrust regulators will decide by July 6 whether to clear Austrian sensor maker AMS’s (AMS.VI) 4.6 billion euro ($5.14 billion) bid for German lighting group Osram (OSRn.DE) after a preliminary review, a European Commission filing showed on Monday.

AMS, which supplies Apple (AAPL.O) with sensors for iPhones and wants to buy Osram to diversify into the auto business, in its largest ever acquisition, notified European Union competition enforcers of the deal on May 29.

The Commission can either clear the deal with or without conditions, or, if it has serious concerns, open a four-month long investigation. ($1 = 0.8941 euros)

Reporting by Foo Yun Chee; Editing by Alex Richardson


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