(Bloomberg) — Want the lowdown on European markets? In your inbox before the open, every day. Sign up here.Osram Licht AG is backing a $4.4 billion takeover offer from AMS AG after reaching an agreement with the Austrian sensor maker that will protect workers from merger-related layoffs until 2022.Osram recommended Tuesday investors accept the proposal of 41 euros a share in cash, saying it “represents an appropriate valuation of the company.” The German car-parts supplier also reported better-than-expected fourth-quarter earnings, while pushing back mid-term targets. The shares rose 0.2% to 40.22 euros in Frankfurt.Osram’s decision to back a deal with …read more
Source:: Yahoo Finance
