Canon (CAJ) to Bid EUR 44.50/Share for I.R.I.S. Group
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Canon, Inc. (NYSE: CAJ) announced the intention to launch, via its subsidiary Canon Europa N.V., a voluntary and conditional public takeover bid in cash for all shares, warrants and stock options of I.R.I.S. Group SA. The bid relates to all shares (including treasury shares) issued by I.R.I.S. Group SA, which are not held by Canon Europa N.V. The bid offers a price of EUR 44.50 per share, and the price for warrants and stock options have been determined in conformity with market practices.
Canon already has a close strategic partnership with I.R.I.S. Group, developed over a number of years, which was strengthened in July 2009 when Canon acquired a 17% stake in the company.
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Canon already has a close strategic partnership with I.R.I.S. Group, developed over a number of years, which was strengthened in July 2009 when Canon acquired a 17% stake in the company.
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