Osram CEO says he hopes Bain, Advent bid approach was 'no joke'
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FRANKFURT (Reuters) - Private equity groups Bain and Advent are doing thorough due diligence on Osram in preparation for a potential takeover offer, Olaf Berlien, the Chief Executive of the German lighting maker said on Thursday. Bain and Advent said in a letter on last month they were prepared to make an offer for Osram at a price "meaningfully" above that of rival bidder Austrian sensor specialist AMS ."I hope it was not a joke", he said referring to the letter which effectively derailed..