By Dylan Tokar
Canon Inc. and Toshiba Corp. on Monday agreed to pay $2.5 million each to settle charges the companies violated U.S. antitrust laws by failing to notify authorities before a deal made for Toshiba’s medical device business.
Faced with accounting irregularities that surfaced in 2015, Toshiba designed a scheme to sell its medical system subsidiary to Canon for around $6.1 billion in 2016 while evading notification rules, according to a civil complaint filed by the Justice Department.
Under a consent decree, the two companies agreed to create a program for complying with the notification law, known as the Hart-Scott-Rodino Act, and other antitrust laws, the Justice Department said.
Canon /zigman2/quotes/210242912/composite CAJ -1.42% /zigman2/quotes/207639533/delayed JP:7751 -1.57% and Toshiba /zigman2/quotes/205628942/delayed JP:6502 -0.41% didn’t immediately respond to requests for comment.
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