Japan regulators probing Canon on Toshiba Medical deal

Thursday, June 30, 2016

Japan's anti-monopoly regulator is investigating Canon Inc over a possible breach of disclosure rules in the company's acquisition of Toshiba Corp's medical equipment unit, a source with direct knowledge of the matter said.

The source declined to be identified because he is not authorised to speak to media. A Canon spokesman declined to comment.

Canon agreed in mid-March to buy Toshiba Medical for 665.5 billion yen ($6.5 billion). Toshiba, in a hurry to raise cash before closing its books for the business year that ended in March, structured the sale of its medical equipment business to Canon in an unorthodox way so that it could book proceeds before the deal was approved by regulators.


Source : reuters.com