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12.11.2019 – 09:02

ams AG

EANS-News: ams AG
ams offer supported by OSRAM; ams has entered into Business Combination Agreement with OSRAM

  Corporate news transmitted by euro adhoc with the aim of a Europe-wide
  distribution. The issuer is responsible for the content of this announcement.

Mergers - Acquisitions - Takeovers


* OSRAM has published reasoned statement in which both Management Board and
  Supervisory Board of OSRAM state their support of the ams Offer
* ams and OSRAM have agreed a Business Combination Agreement with comprehensive
  commitments aimed at safeguarding jobs and manufacturing sites in Germany
* ams encourages all OSRAM shareholders to tender into the Offer and is
  confident to achieve the 55% minimum acceptance threshold
* Offer period due to expire on Thursday, 5 December 2019

Premstaetten, Austria (12 November 2019) -- ams (SIX: AMS), a leading worldwide
supplier of high performance sensor solutions, notes the publication of the
reasoned statement by the Management Board and Supervisory Board of OSRAM Licht
AG ("OSRAM"). ams welcomes the positive recommendation in support of its all-
cash takeover for 100% of the share capital of OSRAM at a price of EUR 41.00 per
share (the "Offer"). In particular, ams recognizes the shared views surrounding
the strategic logic of the combination and the financial attractiveness of the
Offer. Furthermore, ams is pleased that members of the Management Board and
Supervisory Board of OSRAM have stated to tender their shares into the Offer.

In addition, ams announces that it has entered into a Business Combination
Agreement ("BCA") with OSRAM. The BCA creates a collaborative framework to
deliver the joint strategic vision and a successful combination of ams and
OSRAM. The companies intend to create a global leader in sensor solutions and
photonics with tangible benefits for customers in particular by leveraging
leading capabilities in emitters, driver and processing ICs, micro-optics and
optical packaging, detectors and algorithm development to deliver best-in-class
solutions for sizeable sensing, illumination, visualization and treatment

The BCA also provides enhanced stakeholder commitments and protective covenants
for OSRAM employees aimed at safeguarding jobs and manufacturing sites in
Germany. ams will, amongst other provisions:

* Continue to operate OSRAM's existing German production sites for a minimum
  period of 3 years (Standortsicherung);
* Locate approximately half of the leaders of corporate functions with a
  significant part of their respective teams in Munich, and safeguard adequate
  representation of members of the OSRAM management in the combined group;
* Investigate to change the legal form of ams from an AG to a Societas Europaea
  under Austrian law;
* Investigate to increase the Supervisory Board of ams from 9 to 12 members
  (increasing the number of employee representatives from 3 to 4);
* Continue existing shop agreements (Betriebsvereinbarungen), collective
  bargaining agreements (Tarifverträge) and similar agreements in Germany;
* Exclude forced dismissals (betriebsbedingte Beendigungskündigungen) without
  works council approval at the sites in Germany until 31 December 2022, which
  can be directly related to the transaction;
* Ensure existing OSRAM pension plans will remain unchanged; and
* Assess options to include the OSRAM brand in the name of the combined company.

These commitments continue to enable ams to realize the envisaged cost and
revenue synergies from the combination with an expected annual pre-tax run-rate
of at least EUR 300 million.

"We are pleased to announce that we have successfully concluded our constructive
discussions and entered into a comprehensive BCA with OSRAM," said Alexander
Everke, CEO of ams. "This reflects our joint understanding on defining a
collaborative framework to ensure the success of creating a global leader in
sensor solutions and photonics. The agreement also reflects our continued
commitment to safeguard jobs and manufacturing sites in Germany. In addition, we
are pleased that the Management and Supervisory Board of OSRAM recommend our
Offer. In combination, this creates the foundation for a successful relationship
between ams and OSRAM and the basis on which we look forward to delivering our
joint strategic vision."

ams encourages all OSRAM shareholders who have not presently done so, to tender
into the Offer and is confident to achieve the minimum acceptance threshold.
OSRAM shareholders are able to tender their shares into the Offer until the
acceptance period expires on 5 December 2019 at midnight (CEST).

Further information about the Offer - website FAQ and hotline for retail
A FAQ section for shareholders is available online at ams http://www.offer-ams- [].
A takeover offer hotline for retail shareholders is available between 9 a.m. and
6 p.m. (CEST) from Monday to Friday as of today under the phone number +49 69
9517 9985


About ams
ams is a global leader in the design and manufacture of advanced sensor
solutions. Our mission is to shape the world with sensor solutions by providing
a seamless interface between humans and technology.
ams' high-performance sensor solutions drive applications requiring small form
factor, low power, highest sensitivity and multi-sensor integration. Products
include sensor solutions, sensor ICs, interfaces and related software for
consumer, communications, industrial, medical, and automotive markets.
With headquarters in Austria, ams employs about 9,000 people globally and serves
more than 8,000 customers worldwide. ams is listed on the SIX Swiss stock
exchange (ticker symbol: AMS). More information about ams can be found at https:
// []

Join ams social media channels:
>Twitter [] >LinkedIn [
company/ams-ag] >Facebook [] >YouTube [https:/

Important notice:
This announcement is neither an offer to purchase nor a solicitation of an offer
to sell shares in OSRAM ("OSRAM Shares"). The terms and further provisions
regarding the Offer by ams Offer GmbH, a wholly-owned subsidiary of ams, to the
shareholders of OSRAM are set forth in the offer document. Holders of OSRAM
Shares are strongly recommended to read the offer document and to seek
independent advice, where appropriate, in relation to the matters included
therein. Moreover, this announcement is neither an offer to sell nor a
solicitation of an offer to purchase shares in ams.
The release, publication or distribution of this announcement in certain
jurisdictions other than the Federal Republic of Germany and Switzerland may be
restricted by law. Persons who are resident in, or are subject to, other
jurisdictions should inform themselves of, and observe, any applicable
The Offer is made in the United States of America in reliance on, and compliance
with, Section 14(e) of the US Securities Exchange Act of 1934 (the "Exchange
Act") and Regulation 14E thereunder, as exempted thereunder by Rule 14d-1(d).

To the extent permissible under applicable law or regulation, and in accordance
with German market practice, ams Offer GmbH or brokers acting on its behalf may,
outside of the United States of America and in compliance with applicable law,
from time to time make certain purchases of, or arrangements to purchase,
directly or indirectly, OSRAM Shares or any securities that are immediately
convertible into, exchangeable for, or exercisable for, OSRAM Shares, other than
pursuant to the Offer, before, during or after the period in which the Offer
will remain open for acceptance. These purchases may occur either in the open
market at prevailing prices or in private transactions at negotiated prices. Any
information about such purchases will be disclosed as required by law or
regulation in Germany or other relevant jurisdictions.
The shares of ams have not been and will not be registered under the U.S.
Securities Act of 1933 (the "Securities Act") and may not be offered or sold
within the United States except pursuant to an applicable exemption from, or in
a transaction not subject to, the registration requirements of the Securities
Act. There will be no public offering of shares in the United States.

This announcement may contain statements about ams and/or its subsidiaries
(together the "ams Group") or OSRAM and/or its subsidiaries (together the "OSRAM
Group") that are or may be "forward-looking statements". Forward-looking
statements include, without limitation, statements that typically contain words
such as "anticipate", "target", "expect", "estimate", "intend", "plan",
"believe", "hope", "aims", "continue", "will", "may", "should", "would",
"could", or other words of similar meaning. By their nature, forward-looking
statements involve risks and uncertainties because they relate to events and
depend on circumstances that may or may not occur in the future. ams cautions
you that forward-looking statements are not guarantees of the occurrence of such
future events or of future performance and that in particular the actual results
of operations, financial condition and liquidity, the development of the
industry in which ams Group and OSRAM Group operate and the outcome or impact of
the acquisition and related matters on ams Group and/or OSRAM Group may differ
materially from those made in or suggested by the forward-looking statements
contained in this announcement. Any forward-looking statements speak only as at
the date of this announcement. Except as required by applicable law, ams does
not undertake any obligation to update or revise publicly any forward-looking
statement, whether as a result of new information, future events or otherwise.
ams is a registered trademark of ams AG. In addition many of our products and
services are registered or filed trademarks of ams Group. All other company or
product names mentioned herein may be trademarks or registered trademarks of
their respective owners. Information provided in this press release is accurate
at time of publication and is subject to change without advance notice.

Further inquiry note:
Moritz M. Gmeiner
Vice President Investor Relations
Tel: +43 3136 500-31211
Fax: +43 3136 500-931211

end of announcement                         euro adhoc

issuer:       ams AG
              Tobelbader Strasse   30
              A-8141 Premstaetten
phone:        +43 3136 500-0
FAX:          +43 3136 500-931211
ISIN:         AT0000A18XM4
stockmarkets: SIX Swiss Exchange
language:     English

Original content of: ams AG, transmitted by news aktuell