AMS could buy more shares to ease Osram takeover

ZURICH (Reuters) – AMS (AMS.S) could buy more shares in German lighting specialist Osram (OSRn.DE) to ease its takeover attempt, the Austrian sensor maker’s Chief Financial Officer said on Tuesday.

“We will closely watch the developments and we can buy some percentages more on the open markets depending on the stages of regulatory approvals we achieve,” Michael Wachsler-Markowitsch told reporters at a news conference.

“We will look at this and consciously make our decisions,” he said, saying AMS would look at buying “a couple of percentage points.”

AMS, which has secured nearly 60% in Osram, announced on Monday that it aims to secure a so-called domination agreement with Osram to allow it to use the lighting group’s cash flow to pay back debt.

To clinch the agreement AMS needs approval from 75% of Osram investors present at an extraordinary shareholder meeting.

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