Bain Capital LP and Carlyle Group LP are evaluating a higher buyout offer for OSRAM Licht AG in light of a rival bid from Austrian sensor solutions company AMS AG, Reuters reported, citing two people familiar with the matter.
AMS recently made an all-cash bid of €38.50 per share to take over the Germany-based lighting group, trumping the €35-per-share offer from the two private equity firms. Osram's management board and German financial watchdog Bafin have yet to approve AMS' bid before it can proceed, while German trade union IG Metall earlier rejected the offer.
Bain and Carlyle would have to wait until AMS has formally launched its offer before making a decision to increase its offer, the people told the news outlet. The two investors are also exploring several other options, and one source reportedly said the duo had reached out to banks to gauge whether they would be open to providing more financing.
Neither Bain nor Carlyle commented on the matter, according to Reuters.
