Toshiba Gives Canon Exclusive Negotiating Rights for Its $6.2 Billion Medical Biz
Toshiba Corp. granted exclusive negotiation rights to Canon Inc. to buy its medical equipment unit as the Japanese industrial giant restructures its operations after an accounting scandal.
The proposal from Canon is superior to others and the exclusive rights will last until March 18 as the companies work toward reaching a final agreement, Tokyo-based Toshiba said in a statement Wednesday. Suitors for the business, Japan’s largest medical equipment company, were told they needed to offer more than 700 billion yen ($6.2 billion), people familiar with the matter have said.
The proposal from Canon is superior to others and the exclusive rights will last until March 18 as the companies work toward reaching a final agreement, Tokyo-based Toshiba said in a statement Wednesday. Suitors for the business, Japan’s largest medical equipment company, were told they needed to offer more than 700 billion yen ($6.2 billion), people familiar with the matter have said.