Olympus receives another buyout bid
Olympus is in hot demand at the moment, with no fewer than two competing offers on the table for the company's fortunes.
Medical equipment manufacturer Terumo has proposed a 50 million yen (AU$607 million) bid for Olympus, which also makes a range of medical imaging tools, on top of its regular camera range. The bid puts it in direct competition with another consumer electronics heavyweight that has also put a bid forward — Sony. Other bidders include Fujifilm and Panasonic.
As reported by The Wall Street Journal, the deal proposed would allow both companies to remain separate, but form a joint holding company. "We have received capital alliance proposals from several companies, including Terumo. But we are still in the stage of carefully studying," Olympus said in a statement.
Olympus was rocked by an accounting scandal in October 2011, which saw its chief executive blow the whistle on alleged loss-hiding activities in the company.