Bain Said to Explore Takeover Bid for Germany's Osram Licht

(Bloomberg) -- Bain Capital is exploring a takeover bid for German lighting-products manufacturer Osram Licht AG, which has a market value of 3.8 billion euros ($4.3 billion), according to people with knowledge of the matter.

The private equity firm is working with financial advisers to assess the business, the people said, asking not to be identified because the deliberations are private. Other potential suitors including rival buyout firms are also eyeing the former Siemens AG unit, though the interest may not ultimately result in a deal, they said. Osram shares soared the most in more than five years.

Representatives for Osram and Bain declined to comment.

Shares of the German manufacturer had plummeted more than 50 percent this year through Monday as a slowdown in the lighting business and dampened demand for headlights from global automakers triggered two profit warnings and a muted outlook for the next financial year. The company has signaled its interest in selling two underperforming units -- lighting fixtures and U.S. services -- as it seeks to reorganize operations and boost earnings.

Siemens exited the business a year ago, selling its remaining 17 percent stake in Osram for about 1.2 billion euros.

Osram shares climbed 16 percent, the most since July 2013, to close at 39.29 euros in Frankfurt trading on Tuesday.

--With assistance from Eyk Henning.

To contact the reporters on this story: Ruth David in London at rdavid9@bloomberg.net;Sarah Syed in London at ssyed35@bloomberg.net;Dinesh Nair in London at dnair5@bloomberg.net

To contact the editors responsible for this story: Daniel Hauck at dhauck1@bloomberg.net, Amy Thomson, Elizabeth Fournier

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