Good Morning
Good Morning

Small shareholders fight Canon on acquisition of Dutch printer maker

Investors in the Dutch printer manufacturer Océ have accused Canon of seeking a "de facto squeeze-out" of minority shareholders in its proposed $1 billion acquisition, a published report said.

The Océ investors are demanding a higher per-share payment from Canon, whose U.S. operations are based in Lake Success.

Bloomberg News reported Canon announced in November its plan to acquire Océ for $1 billion.

Canon, which "plans to manage Océ as a separate business unit and not seek aggressive synergies," has indicated it would not raise the price from 8.6 euros, the Financial Times of London reported Thursday on its Web site.

But even if the minority investors decline to tender their stock, Canon can still declare the offer binding if it falls short of an 85 percent acceptance threshold, reported.

More news