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| March 9, 2010 |
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| Canon declares public offer for Océ unconditional Reference is made to the press release of 28 January 2010, in which Canon Inc. and its subsidiary Canon Finance Netherlands B.V. and Océ jointly announced that the Offeror is making a fully self-funded public cash offer for all the issued and outstanding ordinary shares of Océ at an offer price of EUR 8.60 per Share. The Offer is further described in the offer memorandum dated 28 January 2010.
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The Offeror announces that with more than 71% of the Shares tendered to or owned by the Offeror and given the positive outcome of the Enterprise Chamber hearing in Amsterdam on 3 March 2010, it declares the Offer unconditional (gestanddoening).
With this announcement, Canon and Océ have successfully taken an important first step in their aim to create the overall No.1 presence in the printing industry.
36,520,160 Shares have been tendered for acceptance under the Offer during the acceptance period that ended at 17:30 hours CET on 1 March 2010. The Shares tendered under the Offer represent 43.03% of the Shares and an aggregated value of EUR 314,073,376.
The Shares tendered under the Offer, together with the 24,018,597 Shares acquired by the Offeror before the end of the acceptance period, amount to a total of 60,538,757 Shares, which represent 71.33% of the Shares.
Payment of the offer price of EUR 8.60 per Share validly tendered (or defectively tendered provided that such defect has been waived by the Offeror) and delivered (geleverd) on the terms and subject to conditions and restrictions set out in the Offer Memorandum will take place on 9 March 2010. |
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