Monday, December 14, 2009

Canon and Oce say good progress being made on Canon's public offer

This is what Oce announced today – It basically says an white knight has until February 8th earliest to claim the firm. In my opinion, this could only be Konica/Minolta or Samsung.

Canon and Oce announced today good progress is being made on Canon’s public cash offer for Oce.  Reference is made to the joint press release by Canon and Océ dated 16 November 2009 in respect of the intended purchase of Oce.

Canon and Océ confirm that good progress is being made on the preparations of the Offer. Canon and Océ filed notifications with the competition authorities of the European Union, the United States, Switzerland and Taiwan. The Océ Merger Committee, the Océ European Works Council and the relevant Océ works councils have been and are being provided with information regarding the Offer in accordance with the applicable rules and regulations.

Canon expects to submit a request for approval of the offer memorandum in respect of the Offer to the Netherlands Authority for the Financial Markets (Stichting Autoriteit Financiele Markten or "AFM") before 8 February 2010, which is the date by which under Dutch law a request for approval must be submitted to the AFM. Senior management of both companies is working side by side to ensure the process runs as smoothly as possible.

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1 comment:

Davis Business Machines, Inc. said...

As a Canon channel partner, We are very excited to see this partnership happen!