Deals
Osram Shares Slump After Lamps Unit Sale Price Disappoints
- Sale to Chinese for 400m euros ‘on low side’: Morgan Stanley
- CEO says deal price will be enhanced by license payments
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Osram Licht AG shares declined on disappointment with the 400 million euros ($440 million) sale price of its general lamps unit and a slump in third-quarter profit partly caused by costs related to the deal.
The stock fell 6.8 percent by 11:39 a.m. in Frankfurt, the steepest drop in more than a month, to 47.22 euros. That pared the year’s gains to 22 percent, valuing the company at 4.9 billion euros.