Since the Austrian sensing company AMS won the bid of Osram in December 2019, it has been a long journey for it to complete the acquisition of the German company. Finally, on July 6, AMS announced that it has received unconditional regulatory approval from the EU commission for the acquisition of Osram and is going to close the takeover on July 9, 2020.

As the acquisition announced last year, it was stated that the merger would be subject to antitrust and foreign trade approvals by the EU. In the press release of the EU Commission, the Commission concluded that the transaction of Osram to AMS would raise no competition concerns in the European Economic Area.

AMS noted that with the approval, the last remaining condition precedent for closing the transaction is now fulfilled. The company is thus expecting the payment of the offer price to the holders of the tendered shares and the closing of the takeover offer on 9 July 2020. Following the closing, ams will hold 69% of all shares in Osram.

The two companies have joined forces and are expected to become a global leader in the field of sensor optoelectronics. Analysts said that the combined company’s annual revenue is expected to reach 5 billion euros.

Today, after reaching an acquisition agreement, AMS and Osram formally obtained the unconditional regulatory approval of the European Commission, which is also a temporary end to the largest merger in Austrian history.