AMS wins unconditional EU approval for 4.6 billion euro Osram buy
Reuters
Published Jul 06, 2020 14:12
BRUSSELS (Reuters) - Austrian sensor producer Ams (VI:AMS) (S:AMS) on Monday gained unconditional EU antitrust approval for its 4.6-billion-euro (4.1 billion pounds) acquisition of German lighting group Osram (DE:OSRn)
The European Commission said the deal would not significantly reduce head-to-head competition between the companies in the markets for optical semiconductors because of the companies low to moderate market share and other rivals in the industry.
The EU competition enforcer said the fast moving products and sophisticated buyers mean that the companies do not exert significant market power. Reuters had reported on June 26 that the deal would secure unconditional EU clearance.
AMS supplies Apple (O:AAPL) with sensors for its iPhones and the Osram acquisition, its largest ever, will also help it reduce its dependence on the U.S. firm, its biggest customer.
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Written By: Reuters
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