Bain Capital LP is in advanced negotiations with Advent International Corp. to make a joint bid for German lighting group Osram Licht AG, Reuters reported, citing people familiar with the matter.
A consortium of Bain and Carlyle Group LP made a prior bid for Osram that was 10% lower than that submitted by AMS AG. The Austrian sensor specialist made a €4.3 billion buyout offer, which Osram had deemed to be financially attractive.
Carlyle is ready to leave the consortium, while Bain is prepared to outbid AMS, according to sources familiar with the matter.
An AMS spokeswoman told Reuters that it viewed reports of a new buyout offer as mere speculation intended to derail AMS' offer.
