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Bloomberg
Bain Capital and Advent International are preparing a fresh bid for German lighting maker Osram Licht AG, ratcheting up a bidding war with Austrian sensor maker AMS AG, according to people with knowledge of the matter.
The two buyout firms planneed to announce their intention to submit a new proposal as soon as Wednesday, with a formal bid coming later, said the people who asked not to be identified. The approach is expected to be above AMS’s 38.50 euros-a-share offer that’s valued at $4.1 billion, they said.
Osram shares erased earlier losses, jumping to 38.75 euros as of 12:15 pm in Frankfurt,
an advance of 2.1 percetn. Spokespeople for Bain, Advent, Osram declined to comment. Bain’s pursuit of Osram has fresh momentum after teaming up with Advent as a replacement for its earlier partner Carlyle Group.