Chinese chipmaker Sanan Optoelectronics announced on Monday evening that it was indeed "initial contact" by Osram British media, said Chinese chipmaker Sanan Optoelectronics confirmed on the 10th that the company had "initial contact" with German lighting company Osram. Previous reports that Sanan Optoelectronics intends to acquire Osram pushed up the latter's share price.
According to Reuters reported on October 10, OSRAM is shifting its focus from light bulb production to lighting technology, selling the lighting department and investing 1 billion euros in a new factory in Malaysia to produce chips for LED lighting, which has become a chip for Sanan Optoelectronics. The potential acquisition target of the manufacturer.
With the market value of OSRAM reaching 6 billion euros, if Sanan Optoelectronics really launches the acquisition, it will become the largest German company that Chinese companies intend to acquire. China is striving to become a leading technology country within a few years.
According to reports, a series of acquisitions by Chinese companies have caused some unease in Germany and prompted the German government to pay close attention.
“The company is currently in preliminary contact with OSRAM related parties on a potential acquisition transaction or cooperation event, and the two parties only met once.†Sanan Optoelectronics issued a statement on the Shanghai Stock Exchange.
“As of now, we have not negotiated terms of terms such as scope or price, nor have we signed binding documents.â€
The report said that Osram's share price rose 2.8% at the beginning of the session, but after Sanan Optoelectronics said that only after a face-to-face meeting with Osram on a possible acquisition or cooperation agreement, the stock price turned down. Osram shares fell 1.58% on the day.
Barclays Capital Commodity Analyst said in the report, "Osram's attraction is necessarily the LED intellectual property (IP) cross-licensing, and (Sanan Optoelectronics) will only be able to obtain through the acquisition of a majority stake."
"These IP rights will allow Sanan Optoelectronics to legally sell its chips outside of China, and this is something that it can't do now."
According to the report, Osram's potential acquirer can buy a stake of 17.5% Osram held by Siemens as a stepping stone to the acquisition of all companies. Siemens does not agree with OSRAM's transformation strategy and invest heavily in LED chips.
A person familiar with the two companies said that before OSRAM announced its latest LED-based strategy in November last year, Siemens was close to selling its shares to a Chinese buyer. A source said that Siemens is extremely cautious about selling shares to Chinese buyers and will be more likely to wait for public offerings to shareholders. Both OSRAM and Siemens are not willing to comment.
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