[November 17, 2009] SNS says Canon bid to solve Oce's problems Tweet (M&A Navigator Via Acquire Media NewsEdge) SNS Securities said yesterday the takeover bid of Japan's imaging equipment maker Canon (TYO:7751) for Dutch photocopier and printer maker Oce (AMS:OCE) would solve all the problems of Oce. Canon offered Monday EUR1.5bn (USD2.24bn), including debt, to buy its peer. Analyst Maarten Altena does not rule out a higher rival offer, referring to competitors like Hewlett-Packard (NYSE:HPQ) and Kyocera (NYSE:KYO). The premium of 70% to Oce's closing share price on Friday is substantial, according to Altena, who added that some 30% of the current shareholders promised to support the bid. SNS has a "hold" rating and EUR 4.35 price target on Oce's stock. Oce closed flat at EUR 8.62 in Amsterdam on Monday. Country: Netherlands Sector: Machinery/Engineering Target: Oce NV Buyer: Canon Inc Deal size in USD: 2.24bn Type: Corporate acquisition Financing: Cash ((Comments on this story may be sent to [email protected])) (c) 2009 M2 COMMUNICATIONS [ Back To TMCnet.com's Homepage ]