Sony, Olympus Close To $640M Tie-Up Agreement

Law360, New York (September 14, 2012, 2:49 PM EDT) -- Beleaguered camera maker Olympus Corp. is in final negotiations for a 50 billion yen ($640 million) tie-up with electronics goliath Sony Corp., a Japanese broadcaster reported Friday, signaling that the company could shore up its business after a billion-dollar accounting scandal last year.

The news comes after several months of speculation over what would-be suitor Olympus would select as a partner in a bid to overcome steep financial losses. Sony has been widely considered the frontrunner, and the report from Japan's NHK says the pair plan...
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