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Canon Inc. to buy back 15M of its shares

Canon EOS Rebel T2i (with 18-55mm lens) CNET

Canon EOS Rebel T2i (with 18-55mm lens)

CNET rating: 3.5 stars out of 5 (Very Good)

The good: Fast performance; excellent photo quality; above average video-capture quality.

The bad: Annoying viewfinder; irritating control layout for video capture.

The cost: $749.00 to $899.99

The bottom line: A great follow-up to the T1i, if you want the best photo and video quality in a dSLR for less than $1,000, the Canon EOS Rebel T2i is hard to beat.

Complete review

The parent company of Lake Success-based Canon USA will buy back up to 15 million of its  shares, at a cost of more than $600 million.

Canon Inc., of Japan, will spend  $610.4 million, to buy 1.2 percent of the shares it does not already own, Reuters reports Wednesday. The buyback will take place starting Thursday and ending July 28.

Canon will use the shares "to prepare for possible share swaps and other strategic moves," Reuters said. 

Photo: A  Canon EOS Rebel T2i camera.


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