This Day On The Street
Continue to site right-arrow
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Canon Announces Opening Of Public Takeover Bid For All Shares In I.R.I.S. Group SA

LONDON, February 6, 2013 /PRNewswire/ --

Acquisition to accelerate growth of Canon's solutions business

Re fer ence is made to the joint press release  of Cano n and I . R . I . S . Group  SA  of 18 September 2012   regarding Canon ' s intention to acquire I.R.I.S. Group SA . Canon, world-leader in imaging solutions, via its subsidiary Canon Europa N.V., today announced the opening of a voluntary and conditional public takeover bid in cash for all shares, warrants and stock options of I.R.I.S. Group SA. The initial acceptance period under the offer begins on 6 February 2013 and ends on 20 March 2013.

The bid relates to all shares (including treasury shares) which are not held by Canon Europa N.V., the warrants and stock options issued by I.R.I.S. Group SA. The offer price per share is EUR 44.50, and the price for warrants and stock options has been determined in accordance with market practices.

Canon already has a close strategic partnership with I.R.I.S. Group, developed over a number of years, which was strengthened in July 2009 when Canon acquired a 17% stake in the company. Bringing I.R.I.S. Group into the Canon Group will allow both companies to cooperate more closely in developing a range of technology solutions to be able to better serve their customers in the business environment.

Rokus van Iperen, President & CEO, Canon Europe, Middle East and Africa, comments:  " Both management teams are committed to successfully completing the process already underway to bring I.R.I.S. Group into the Canon Group, and we look forward to working closely together to drive future growth .  We are confident that I.R.I.S. Group will play a key long term role in building Canon ' s solutions and  business  services  portfolio . "

Pierre de Muelenaere, President & CEO, I.R.I.S. Group, comments: " The technological world is changing fast. We are offering a strong portfolio of innovative solutions and complementary services that can generate significant business benefits for our partners and client s .  This portfolio fits extremely well with Canon ' s strategy to develop a strong solutions and services activity at interna tional level.  Both I.R.I.S. ' s Board of Director s  and Management are therefore unanimously supporting the Bid and committed to  it. "

Full details of the bid are covered in the offer prospectus and the memorandum in reply prepared by the board of directors of I.R.I.S. Group SA that are published on the website of I.R.I.S. Group ( and of ING Belgium ( The prospectus can also be sent without charge upon request by telephone from ING Belgium SA/NV at +32-2-464-60-02 (French) or at +32-2-464-60-04 (English).  

The prospectus and the memorandum in reply, which have both been approved by the FSMA on 5 February 2013, are also available on the FSMA website at:

Notes to Editors:

1 of 3

Select the service that is right for you!

Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!


DOW 17,804.80 +26.65 0.15%
S&P 500 2,070.65 +9.42 0.46%
NASDAQ 4,765.38 +16.9840 0.36%

Brokerage Partners

Rates from

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs