Just In
- 3 hrs ago IPL 2024: Best Airtel Prepaid Plans to Stream Indian Premier League
- 4 hrs ago Motorola Edge 50 Pro Price in India Leaked Ahead of Official Announcement
- 18 hrs ago Samsung Galaxy A55 vs Galaxy S23 FE: The Battle of Samsung’s Premium Mid-rangers!
- 19 hrs ago IPL 2024: How to Get Free Indian Premier League Stickers on JioCinema
Don't Miss
- Sports KKR's Harshit Rana fined 60 percent match fees for 'flying kiss' gesture against SRH's Mayank Agarwal
- Finance Fuel Prices Soar: Mumbai Petrol Crosses Rs 100 Mark, Delhi Close Behind
- News Ram Lalla's Holi 2024: Celebrate With Eco-Friendly 'Kachnar Flower' Gulal!
- Automobiles Top 5 Cars Used As Cabs In India: Breaking Down Their Dominance on the Roads
- Lifestyle Hair Bow Trend Is One The Rise: 6 Tips To Elevate Your Look With The Timeless Accessory
- Movies Rebel Box Office Collection Day 3 Prediction: GV Prakash & Mamitha Starrer Movie Expects A Promising Sunday
- Travel Learn About the Types of US Visas Available for Indian Immigrants and the Visa Process
- Education UPSC ESIC Nursing Officer Recruitment 2024; Apply Online for 1930 Posts, Know more
Japan's Canon to launch USD 2.8 bn bid to buy Sweden's Axis
Japan's Canon said today it would launch a tender offer to buy all outstanding shares in Axis AB, a Swedish network video solutions company, for about USD 2.8 billion next month.
The Japanese camera and copier maker said in a statement that funds required for the purchase would reach 23.6 billion Swedish krona, or about 333.7 billion yen (USD 2.8 billion). The offer is "friendly in nature and the Board of Directors of Axis has decided to recommend Axis's shareholders to accept it", Canon said.
Recommended: Valentine's Day On A Budget: Top 10 Hot Exchange Offers on your Old Smartphones
The offer would be launched as soon as Swedish financial authorities and the Stockholm stock exchange give approval, scheduled for early March. The deal would "enable both companies to offer innovative, sophisticated network video solutions", Canon said.
Axis, established in 1984 in Lund, Sweden, reported a net profit of 539 million Swedish krona for the year to December on sales of 5.45 billion Swedish krona. Canon said in late January that net profit grew 10.5 percent in 2014 owing to the impact of a weak yen and cost cuts as well as strong demand for its office equipment.
Recommended: Top 10 Cheapest 2GB RAM Smartphones Available in India
Japan's currency has declined sharply against the dollar recently, a plus for exporters as it inflates the value of repatriated overseas income.
Canon and domestic rivals including Sony and Olympus have seen a big drop in sales of their digital imaging products as camera-equipped smartphone sales boom. Despite the slowdown, Canon said it expects both sales and profit to grow in 2015.
Source: PTI
-
99,999
-
1,29,999
-
69,999
-
41,999
-
64,999
-
99,999
-
29,999
-
63,999
-
39,999
-
1,56,900
-
1,39,900
-
1,29,900
-
79,900
-
65,900
-
12,999
-
96,949
-
16,499
-
38,999
-
49,999
-
30,700
-
8,999
-
36,999
-
38,999
-
1,17,840
-
35,000
-
23,960
-
82,510
-
16,258
-
25,999
-
26,999