Canon Inc. has made a public offer to the shareholders of Axis Communications to transfer all of their shares in Axis to Canon for a consideration of SEK 340 in cash per share in the Company. The total value of the offer is approximately $ 2.8 billion.
If the offer is accepted this will be the Canon's biggest acquisition to date. Axis has released a statement of the Board of Directors in relation to the offer. Based on a financial short and mid-term perspective, the Board of Directors have concluded to unanimously recommend that the shareholders of Axis accept the public offer made by Canon.