(Bloomberg) -- Want the lowdown on European markets? In your inbox before the open, every day. Sign up here.Osram Licht AG is backing a $4.4 billion takeover offer from AMS AG after reaching an agreement with the Austrian sensor maker that will protect workers from merger-related layoffs until 2022.Osram recommended Tuesday investors accept the proposal of 41 euros a share in cash, saying it “represents an appropriate valuation of the company.” The German car-parts supplier also reported better-than-expected fourth-quarter earnings, while pushing back mid-term targets. The shares rose 0.2% to 40.22 euros in Frankfurt.Osram’s decision to back a deal with rival AMS is a step forward in the months-long takeover battle. AMS’s offer running until Dec. 5 is its third attempt to acquire Osram, which has suffered amid a slump in the automotive industry. Although holding firm on the price, AMS has lowered the minimum acceptance threshold to 55% to make...

Call Us:

Visit Us:

6:00 AM - 6:00 PM

Edited Transcript of PBH.TO earnings conference call or presentation 11-Nov-19 7:30pm GMT

Edited Transcript of DXC.N earnings conference call or presentation 11-Nov-19 9:45pm GMT

Edited Transcript of MCFT earnings conference call or presentation 7-Nov-19 3:00pm GMT

Edited Transcript of DISCA earnings conference call or presentation 7-Nov-19 1:30pm GMT

Edited Transcript of HHC earnings conference call or presentation 5-Nov-19 3:00pm GMT

Edited Transcript of CABO earnings conference call or presentation 7-Nov-19 10:00pm GMT

Osram Advises Shareholders to Accept $4.4 Billion Takeover