• Most Popular
  • Most Shared

Ricoh to buy Ikon Office Solutions for $1.62 bln

Wed Aug 27, 2008 8:10am EDT

Stocks

   

TOKYO, Aug 27 (Reuters) - Japanese copier and printer maker Ricoh Co Ltd (7752.T) said on Wednesday it would acquire Ikon Office Solutions IKN.N, which sells and leases office equipment, for about $1.62 billion in cash.

Ricoh, which competes with Xerox Corp (XRX.N), Canon Inc (7751.T) and Konica Minolta Holdings (4902.T) in printers and copiers, said it would pay $17.25 for each Ikon Office share.

Shares of U.S.-based Ikon Office closed Tuesday at $15.56.

(Reporting by Kiyoshi Takenaka; Editing by Quentin Bryar)



More from Reuters

Photo

Obama blames "systemic failures" for plane attack

KANEOHE, Hawaii (Reuters) - President Barack Obama on Tuesday blamed "human and systemic failures" for allowing a botched Christmas Day attack aboard a Detroit-bound airliner and a U.S. official said the incident was linked to al Qaeda. | Video

» More Top News
A man passes by a logo of the Tokyo Stock Exchange at the bourse in Tokyo December 29, 2009. REUTERS/Yuriko Nakao

Tokyo trade gets turbocharged

The "Arrowhead" gives Asia's largest -- and long derided -- bourse a viable electronic trading platform, it hopes.  Full Article 

Global Markets
REUTERS/James Saft
JAMES SAFT:

Welcome to the "Teenies"

Shrinking financial sector? Paltry investment returns? Welcome to the the next decade. Don't worry, there's some good news, too.  Commentary 

COMMENTARY