Bulletin
Investor Alert

The Wall Street Journal Archives | Email alerts

Feb. 10, 2015, 3:09 a.m. EST

Canon plans to buy Sweden’s Axis for $2.8 billion

Camera maker sees network monitoring as promising

new
Watchlist Relevance
LEARN MORE

Want to see how this story relates to your watchlist?

Just add items to create a watchlist now:

  • X
    Canon Inc. (7751)

or Cancel Already have a watchlist? Log In

By Megumi Fujikawa

TOKYO — Canon Inc. said Tuesday it plans to fully acquire Axis AB, a Swedish network video solutions provider, in a tender offer worth ¥333.7 billion ($2.8 billion).

The decision comes as the Japanese camera maker is struggling with falling demand for digital cameras and aims to diversify its operations overseas. The company said it sees network monitoring systems as a promising new business area.

Canon /zigman2/quotes/207639533/delayed JP:7751 -1.57%  said it would commence the tender offer for Axis’s   shares in early March, as soon as its bid is approved by the Swedish Financial Supervisory Authority and Nasdaq Stockholm where Axis is listed.

The Swedish company said that its board of directors has accepted Canon’s bid, which represents a 49.8% premium to the company’s closing share price on Monday.

An expanded version of this report appears on WSJ.com

/zigman2/quotes/207639533/delayed
JP : Japan: Tokyo
¥ 2,859.00
-45.50 -1.57%
Volume: 4.51M
Oct. 18, 2019 3:00p
P/E Ratio
16.77
Dividend Yield
5.60%
Market Cap
¥3041.50 billion
Rev. per Employee
¥19.98M
loading...

This Story has 0 Comments
Be the first to comment
More News In
Industries

Story Conversation

Commenting FAQs »
Link to MarketWatch's Slice.