Olympus in final talks with Sony for investment: Nikkei
(Reuters) - Olympus Corp (7733.T) is in final talks with Sony Corp (6758.T) for a roughly 50 billion yen ($622.86 million) investment as the Japanese camera and medical equipment maker looks to rebuild from last year's accounting scandal, Japanese business daily the Nikkei reported.
After the deal, Sony will become Olympus' top shareholder with a more than 10 percent stake, the daily said.
Olympus is facing more pressure to accept capital from another company in return for stock, Olympus President Hiroyuki Sasa told Reuters on Wednesday.
The two companies aim to reach an agreement next month and would join forces in medical equipment and other areas, the Nikkei said.
The negotiations with Sony, who vied with Panasonic Corp (6752.T), Fujifilm Holdings Corp (4901.T) and Terumo Corp (4543.T) for the tie-up, may still fall through, the daily said.
Panasonic was seen as a promising contender, given its collaboration with Olympus in digital cameras. But the daily said it has given up on an investment deal, seeing little benefit in devoting resources to healthcare at a time when it is shifting to environment- and energy-related businesses.
($1 = 80.2750 Japanese yen)
(Reporting by Shubham Singhal in Bangalore; Editing by Supriya Kurane)
- Tweet this
- Share this
- Digg this
- U.S. plans to arm Iraq's Sunni tribesmen with AK-47s, RPGs, mortars
- Bighorn sheep escapes Los Angeles Zoo, dies after car strikes it
- China building South China Sea island big enough for airstrip - report
- Apple $450 mln e-book settlement gets final court approval
- India approves $2.6 bln mounted gun purchase - official