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China's Sanan Optoelectronics wants to buy Osram - Wirtschaftswoche
October 6, 2016 / 5:20 AM / 10 months ago

China's Sanan Optoelectronics wants to buy Osram - Wirtschaftswoche

1 Min Read

BERLIN, Oct 6 (Reuters) - Chinese chipmaker Sanan Optoelectronics Co Ltd wants to buy German lighting company Osram, German magazine Wirtschaftswoche reported on Thursday, without specifying the source of the information.

Sanan wants to present a "qualified offer" by mid-October to acquire Osram, the magazine said, citing unnamed sources involved in the negotiations.

Sanan, which makes LED products, chips and solar products, may offer to pay about 70 euros ($78.39) per Osram share, Wirtschaftswoche said. A full takeover bid would value the company at about 7.2 billion euros ($8.1 billion).

A spokesman for Osram couldn't immediately be reached for comment. The Munich-based firm in July sold its lamps unit to a Chinese consortium for more than 400 million euros.

Germany's Economy Ministry said on Sept. 30 there is a trend towards targeted Chinese takeovers of German firms and it will monitor this development. ($1 = 0.8931 euros) (Reporting by Andreas Cremer; Editing by Richard Pullin)

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