July 6, 2020 / 1:07 PM / a month ago

AMS wins unconditional EU approval for 4.6 bln euro Osram buy

BRUSSELS, July 6 (Reuters) - Austrian sensor producer Ams on Monday gained unconditional EU antitrust approval for its 4.6-billion-euro ($5.2 billion) acquisition of German lighting group Osram

The European Commission said the deal would not significantly reduce head-to-head competition between the companies in the markets for optical semiconductors because of the companies low to moderate market share and other rivals in the industry.

The EU competition enforcer said the fast moving products and sophisticated buyers mean that the companies do not exert significant market power. Reuters had reported on June 26 that the deal would secure unconditional EU clearance.

AMS supplies Apple with sensors for its iPhones and the Osram acquisition, its largest ever, will also help it reduce its dependence on the U.S. firm, its biggest customer.

$1 = 0.8829 euros Reporting by Foo Yun Chee, Editing by Gabriela Baczynska

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