IG Metall’s acceptance is contingent to Osram’s management sticking to its agreements on protecting jobs.

On Friday, in a development that will pave the way for private equity firms Bain and Carlyle’s takeover of German lighting group Osram, Germany’s largest trade union, IG Metall stated, it does not oppose a takeover offer from the private equity firms.

Osram’s board has backed the takeover offer.

According to IG Metall’s Klaus Abel, who sits on Osram’s supervisory board, the union expects Osram’s management to stick to its agreements on protecting jobs.

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Tags: Bain, Carlyle, German, Germany, IG Metall, lighting group, M&A, mergers and acquisition, Osram, private equity, protecting jobs, supervisory board, takeover, trade union