Océ shareholders lose in court
Thursday 04 March 2010
The company court in Amsterdam on Wednesday rejected the objections of a large group of minority shareholders to the takeover of print-maker Océ by Canon.
Japanese electronics group Canon has already acquired 71% of the shares in Océ. Its bid of €8.60 a share values Océ at €770m.
The objectors hold some 20% of the shares.
The shareholders had argued the bid undervalues Océ and the planned issue of preference shares waters down their stakes. They were also opposed to the appointment of four Canon representatives to the six-strong supervisory board.
© DutchNews.nl
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