By Cecilia Butini
Ams AG said late Tuesday that its subsidiary Ams Offer GmbH has concluded a domination and profit and loss transfer agreement with Osram Licht AG as part of a planned takeover which will create a combined company focusing on sensor solutions and photonics.
The Austrian sensor maker, which is listed in Switzerland, said cash compensation under the agreement amounts to 44.56 euros ($52.17) per share, while recurring compensation is set at EUR2.24 per share. This amount will be paid out to Osram shareholders after subtracting tax, Ams said.
Ams currently holds a 71% stake in Osram.
The company said the domination agreement is contingent on approval by at least 75% of the votes of the extraordinary general meeting of Osram, which will be held on Nov. 3.
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