Bain Capital, Carlyle Announce Bid to Takeover Osram

July 7, 2019 | Private Equity
https://dailyalts.com/wp-content/uploads/2019/07/57e1d2404856a514ea898579ce203e7c1d22dfe05553754d7c2e78dd_640.jpg

Bain Capital and Carlyle announce €3.4 billion bid for German light maker

Bain Capital and Carlyle Group announced a takeover offer for German lighting manufacturer Osram Licht AG. The bid is worth at €35 ($39.50) per share. The offer is worth €3.4 billion ($3.8 billion).

That offer represents a premium of about 21% to the target’s closing price last Tuesday.

The offer comes after months of deliberation. News of a possible takeover first made headlines in February. However, funds faced capital raising challenges due to increased concerns about the company’s future earnings expectations.

Osram, a spinoff from Seimens, had warned six consecutive quarters about its profitability outlooks due to cooling demand for lights and components, primarily in the automotive and telecom industries.

Osram’s management and supervisory boards have recommended the offer for acceptance, saying it is in the best interests of both the company and shareholders.

Valuation of Osram

At the offer price, the enterprise value of Osram is €4 billion, while the equity valuation is €3.4 billion.

Thursday, the bidders signed an investor agreement agreeing to Osram’s corporate strategy.

Meanwhile, the offer is contingent on a minimum acceptance of 70% of shares, excluding shares owned by Osram.

The deal is one of many recent buyouts that have energized the European private equity market.

Free Industry News

Subscribe to our free newsletter for updates and news about alternatives investments.

  • This field is for validation purposes and should be left unchanged.


Shape

Latest Alternative Investment News

https://dailyalts.com/wp-content/uploads/2022/01/Bink-app-shot.png
FinTech: Lloyds To Acquire Stake In Loyalty App Bink
January 4, 2022     FinTech, News

Lloyds Banking Group (LON: LLOY), Britain’s biggest mortgage provider, will acquire a minority stake in loyalty app Bink, according to a report by Sky News for an undisclosed amount that…

https://dailyalts.com/wp-content/uploads/2022/01/Screenshot-2022-01-04-at-22-29-49-Screenshot-Pawson-2.png
Digital Assets: Coinbase CEO Armstrong Said To Have Splurged $133M On Home In LA
January 4, 2022     Digital Assets, News, Real Estate

An iconic property in Bel Air, Los Angeles, designed by internationally acclaimed English architect John Pawson changed hands last month for $133 million and the buyer was Coinbase (NASDAQ: COIN)…

https://dailyalts.com/wp-content/uploads/2022/01/47752022922_e4569a2f0e_c.jpg
Alternative Investments/ESG: VegTech Invest Launches Plant-Based Innovation & Climate ETF

VegTech Invest advisory has launched the VegTech Plant-based Innovation & Climate ETF (Ticker: EATV), its first financial product. The ETF offers exposure to publicly traded companies actively innovating with plants…

https://dailyalts.com/wp-content/uploads/2022/01/Screenshot-2022-01-04-at-18-48-26-超·世界.png
Venture Capital: Chinese AI Startup Parametrix Raises $100M, Turns Unicorn
January 4, 2022     Artificial Intelligence, News, Venture Capital

Chinese AI company Parametrix.ai has raised $100 million in a Series B round led by Sequoia China and joined by existing investors 5Y Capital and Gaorong Capital. Though the valuation…