Canon completes Optopol acquisition

2010-03-01

Optopol Technology, the listed Polish maker of ophthalmic diagnostic equipment, announced that on 19 February Canon completed the acquisition of 89.35% of shares and voting rights in the company. This seals the success of Canon’s takeover bid, which was conditional upon the Japanese firm buying at least 80% of shares in Optopol, and paves the way for its exit from the Warsaw Stock Exchange. On the same day, a shareholder agreement took effect whereby Adam Bogdani, Optopol’s founder and CEO, will retain 10% of shares in the company and will stay on as its chief executive at least until 31 December 2012. Canon intends to buy out the remaining shares by means of a squeeze-out transaction within the next 12 months. The Japanese firm will also call for a general shareholders’ meeting that will approve the delisting of Optopol’s shares from the Warsaw stock market.
Canon launched its bid in December 2009, offering to pay PLN 248m (€62.1m) for 90% of shares in Optopol. CEO Bogdani welcomed it as a friendly takeover that would protect R&D and production activities in Poland and give the Polish firm an important role within a major global company.
Canon is the exclusive distributor of Optopol’s equipment on the US and Japanese markets.