- Austrian sensor specialist AMS (OTCPK:AMSSY) has triggered a bidding war for Osram (OTC:OSAGY), saying it was ready to pay $3.8B for the German lighting group's shares, 10% more than finance investors Bain Capital and Carlyle (NASDAQ:CG) have already offered.
- AMS is working on reducing its dependency on Apple, which it supplies with sensors for facial recognition technology, and is investing heavily in technology for self-driving cars.
- Grappling with weakness in the auto industry, Osram has sparked bidding interest because of its potential as a supplier for connected and autonomous cars.