Sony, Olympus Finally Ties The Knot, Buys $644 Million Share Of Olympus

Posted on Sep 28 2012 - 10:41am by Editorial Staff

Turning the long story short, the announcement that takes month to confirmed now finally taken place, as according to the Wall Street Journal, Olympus has come into an agreement with ¥49 billion ($631.6 million) by issuing new shares to Sony. With the deal, Sony now effectively becomes Olympus’s biggest shareholder, with a total stake of 11.5% in terms of voting rights while Olympus will issue the new shares to Sony for a price of ¥1,454 per share ($18.74), a 4.3% discount to Friday’s closing price of ¥1,520.

Along with this announcement, the two companies also shared a plan to set up a joint venture by the end of December this year to develop medical devices as well as to study collaboration in compact digital cameras. Other good thing to note that this is the third deal in the country Japan that happens today, first the Sharp, followed by Panasonic and now this partnership.

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Editorial Staff at I2Mag is a team of subject experts led by Karan Chopra.