Danish shareholder Sparinvest currently holds 5.5% of Océ's shares and is the third business to oppose the deal, according to news agency Reuters.
In January, Hermes Focus Asset Management branded the offer for the Dutch company as "meagre" and in November 2009, Orbis Fund Management, which owns around 10% of the business, said that it would not sell its equity at the current price offered by Canon.
However, Van Iperen has told Océ's shareholders that Canon's offer is "the best we could get" and is the best price for the manufacturer. The shareholders currently have until 1 March to offer their shares.
Japanese manufacturer Canon made a €730m (£655m) cash offer for digital press manufacturer Océ with a view to creating "the number one presence" in the digital market, in November 2009.
Van Iperen tells Oc shareholders to accept Canon bid, despite further opposition
Oc chief executive Rokus Van Iperen has urged shareholders to accept Canon's offer for the Dutch manufacturer after a new investor voiced its discontent at Canon's current 655m bid for the company.
