San’an Opto Refutes Plans of Acquiring Osram

2016-10-20 20:33:56 qithink 19

San’an Opto clarified rumors that it was in acquisition talks with Osram on Monday.

The two companies engaged in preliminary discussions about a potential acquisition or partnership, but had only met once to discuss related issues, stated San’an Opto.

The companies have not concluded negotiations, inked any documents regarding partnerships or merger agreements, stated San’an Opto.

The Xiamen-based LED company will resume trade on the bourse on Oct. 11, 2016.

German magazine Wirtschaftswoche was the first to report San’an Opto might acquire Osram at a price of EUR 70 (US $77.79) per share last week, which would bring the estimated acquisition value to EUR 7.2 billion.