Canon’s Oce Bid in Doubt
January 13, 2010 By Jon Robinson
Bloomberg.com reports this morning that Canon’s $1.1-billion bid for Océ NV “may be in jeopardy after holders of 13 percent of the Dutch company said they won’t tender their shares and a group representing about 200 investors said the offer was too low.”
The Bloomberg article (link below) includes comments from a Canon spokesperson, as well as financial analysts who suggest it is not vital for Canon to obtain 100 percent of Océ’s shares at this time.
The article also points out that the deal is fully supported by Océ executives. There are currently no counter bids on the table. Océ, yesterday, reported fourth quarter net loss of €23 million.
Read Bloomberg’s report
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