Canon Plans To Snap Up Print Maker Oce For $1.1B

Law360, New York (November 16, 2009, 1:46 PM EST) -- Japanese electronics producer Canon Inc. plans to purchase Europe's largest print maker, Oce NV, in an all-cash transaction of $1.09 billion, the companies said Monday.

Under the terms of the deal, which is still subject to regulatory approval, Canon will offer €8.60 ($12.86 US) per share for all outstanding common shares of the Dutch printing company, a 70-percent premium on the stock's closing price on Friday. Canon also said it will fund the deal and refinance Oce's $1.05 billion in debt from internally generated funds....
To view the full article, register now.