Terumo Corporation Offers to Invest $640 Million in Olympus Corporation
Published: Jul 26, 2012
Japan's Terumo Corp. proposes a merger with Olympus Corp., aiming for a buyout to block rival companies' advances. Asian medical device giant Terumo Corp. (TYO:4543) confirmed rumors of a proposed buyout of Olympus (PINK:OCPNY) in the aftermath of a $1.7 billion accounting scandal. Terumo offered a $640 million investment into Olympus, sending OCPYNY shares up 6% to a closing price of $17.44 last night. Terumo confirmed that it had proposed an investment and is looking to form a committee to investigate a joint holding company.