Electronics Production | November 16, 2009
Canon to acquire Océ
Canon and Dutch copier and printer manufacturer Océ have reached an conditional agreement. Canon is make a fully self-funded, public cash offer for all the shares of Océ.
The offer price of € 8.60 per share of Océ represents a premium of 70% over the closing share price of Friday 13 November 2009 and 137% to the average closing price of Océ's Shares over the last 12 months. The Offer values 100% of the issued and outstanding Shares of Océ at approximately € 730 million. Canon's President and COO Tsuneji Uchida says: "We are delighted to welcome Océ, the ideal partner in every respect, into the Canon Group. Through the merger of Canon and Océ, we believe that we will be able to realize clear benefits, not only in the area of R&D, but also in terms of product mix and marketing and are confident that this winning combination will contribute greatly to our goal of becoming the overall No. 1 presence in the printing industry." Océ's CEO Rokus van Iperen says: "I am very much looking forward to joining forces with Canon. There is a great fit between our companies, which share similar values and a strong commitment to technology and innovation. I am proud Canon intends to team up with Océ, based upon the prominence of our customers and technology and of course our people that have shaped our company for generations."