BRUSSELS, Dec 22 (Reuters) - Japan's Canon Inc won approval from EU competition regulators on Tuesday for its takeover of Dutch copier and printer maker Oce, the European Commission confirmed.
'The parties would continue to face several strong competitors in all market sectors,' the Commission, which polices competition in the 27-country European Union, said in a statement.
'The Commission therefore concluded that the proposed transaction would not give rise to competition concerns,' it said.
Canon said earlier that it had received clearance from the European Commission and Taiwanese competition authorities for the acquisitiion of Oce.
Canon and Oce products have little overlap, with the Japanese company strong in regular office machines and mid- to lower-end production printers. Oce's strength is in high-end and advertisement-use large-sized printers.
(Reporting by Dale Hudson) Keywords: OCE CANON/EU (Reuters Messaging: dale.hudson.reuters.net@reuters.com; Email: dale.hudson@thomsonreuters.com; Tel: +32 2 287 6842) COPYRIGHT Copyright Thomson Reuters 2009. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
'The parties would continue to face several strong competitors in all market sectors,' the Commission, which polices competition in the 27-country European Union, said in a statement.
'The Commission therefore concluded that the proposed transaction would not give rise to competition concerns,' it said.
Canon said earlier that it had received clearance from the European Commission and Taiwanese competition authorities for the acquisitiion of Oce.
Canon and Oce products have little overlap, with the Japanese company strong in regular office machines and mid- to lower-end production printers. Oce's strength is in high-end and advertisement-use large-sized printers.
(Reporting by Dale Hudson) Keywords: OCE CANON/EU (Reuters Messaging: dale.hudson.reuters.net@reuters.com; Email: dale.hudson@thomsonreuters.com; Tel: +32 2 287 6842) COPYRIGHT Copyright Thomson Reuters 2009. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
© 2009 AFX News
