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Regulator Probing Canon On $6.5 Billion Toshiba Unit Purchase: Source


Ron Burgundy
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People are silhouetted against a display of the Canon brand logo at the CP+ camera and photo trade fair in YokohamaJapan'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. Canon, which agreed in mid-March to buy Toshiba Medical for 665.5 billion yen ($6.5 billion), declined to comment on the matter. 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.




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