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Top five acquisitions of 2017

por John R. Fischer, Senior Reporter | January 03, 2018
Business Affairs

The acquisitions of these two companies as well as other entities provided not just access to new technology and programs but the ability to scale up on a national level.

Canon acquires Toshiba

Though technically completed in 2016, Canon’s acquisition of Toshiba Medical Systems Corporation was a buzz throughout the industry in 2017 from delays in Toshiba’s name change to EU objections over the deal. It therefore only seems appropriate to mention it in this list.

Following the completion of the December 2016 acquisition, the year of 2017 started out troubling for both companies, with China slapping their agreement with a fine of 300,000 Yuan ($43,000) relating to violations over antitrust regulations against Canon.

China furthered frustration through the length of time it spent assessing the legality of the deal, delaying Toshiba Medical Systems’ name change to Canon Medical Systems to 2018.
Toshiba Medical Systems is set to
officially become Canon Medical Systems on
January 4, 2018

Canon also ran into trouble with the EU in the summer, when merger commissioners for the 28-member bloc issued a statement of objection, alleging that Cannon “breached the EU Merger Regulation” by initiating the acquisition before notifying and obtaining approval from the Commission. Though the deal was allowed to continue, Canon stock dropped to a two-month low.

"We need companies to work with us to ensure fast and predictable merger control, to the benefit of both companies and consumers. But we can only do our job well if we can rely on cooperation from the companies concerned – they must obtain our approval before they implement their transactions, and the information they supply us must be correct and complete," stated Commissioner Margrethe Vestager, in charge of competition policy, as reported by HCB News.

The deal, already surrounded in controversy due to the nature of its structure, seems to have stabilized, with Canon discussing its plans for integration and Toshiba Medical Systems set to officially change its name to Canon Medical Systems on January 4, 2018.

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