Osram Shares Up After Bain, Carlyle Takeover Offer

Shares of Osram Licht AG (OSR.XE) rose Thursday morning after the German lighting group said Wednesday it received a binding, multibillion-euro takeover offer from U.S. private equity firms Bain Capital and Carlyle Group LP CG, -0.55%

The two investors made a public takeover offer of 35 euros ($39.50) a share, Osram said late on Wednesday. The offer values the company at around EUR3.39 billion.

Osram said the "responsible decision bodies" will meet to discuss and decide on the offer shortly.

At 0826 GMT shares of Osram traded up 2.4% at EUR33.01 after rising nearly 5% at the open. Shares had closed nearly 12% higher Wednesday at EUR32.25 following media reports that a takeover offer was imminent.

Osram's share price has fallen nearly 13% in the year to date. The company issued a guidance cut in March, saying it expects revenue to fall between 11% and 14% this fiscal year due to factors like weaknesses in the automotive and Chinese markets, as well as geopolitical uncertainties.

The company discontinued its share-buyback program in May as part of wider cost-cutting efforts.

Analysts at DZ Bank said the takeover offer was unsurprising given the recent and relatively concrete speculation over Bain and Carlyle's interest in an acquisition.

Still, the bank downgraded Osram to hold from buy, citing the company's recent struggles.

"Fundamentally, the situation at Osram remains difficult at present," DZ Bank said.

RECENT NEWS

Gyrostat January Outlook: Calm At Multiyear Extremes

This monthly Gyrostat Risk-Managed Market Outlook does not attempt to forecast market direction. Its p... Read more

Gyrostat December Outlook: The Market Does The Work

Harnessing Natural Volatility for Consistent Returns   Markets have always moved more th... Read more

Gyrostat Capital Management: Why Advisers Must Scenario-Plan Both The Bubble And The Bust

The Blind Spot: Why Advisers Must Scenario-Plan Both The Bubble and The Bust In financial m... Read more

Gyrostat Capital Management: The Hidden Architecture Of Consequences

When Structures Themselves Become A Risk In portfolio construction, risk is rarely where we look for it.... Read more

Gyrostat November Outlook: The Rising Cost Of Doing Nothing

Through the second half of 2025, markets have delivered a curious mix of surface tranquillity and instabi... Read more

Gyrostat Capital Management: Blending Managers - From Style Diversification To Scenario Diversification

The Limits of Traditional Diversification For decades, portfolio construction has ... Read more