Ams AG said Monday that it intends to lower the acceptance threshold of its offer for Osram Licht AG OSR, +0.83% and that an extraordinary shareholder meeting at the end of October is expected to vote on the approval of a 1.5 billion-euro ($1.66 billion) equity issuance.
The acceptance threshold of the offer will be lowered to 62.5% from 70%, the Austrian maker of semiconductors AMS, +8.60% said.
The company is “convinced of the successful acquisition of Osram, reinforced by broad positive feedback received during global investor roadshow,” it said.
Ams expects to hold an EGM around the end of next month to approve a EUR1.5 billion equity issuance to partially refinance the EUR4.2 billion acquisition bridge facility in relation with the offer.
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