Canon's bid for Oc gathers pace

01 December 2009

Business

Canon has acquired 20% of the shareholding of Oc as its bid to create "the number one presence" in the digital market gathers pace.

Shares in Océ had risen marginally above the €8.60 offer price following an objection from major shareholder Orbis.

However, this morning Japanese digital print manufacturer Canon said that it had acquired 25.3% of the total ordinary shares of Océ ("approximately 20%" of its total share capital) at an average price of €8.546 through market purchases.

The highest price the company paid was €8.59. Shares in Océ dropped 2c to €8.57 in early trading.

Business Mergers and acquisitions Digital

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