(MENAFN) Japan's Canon announced it would launch a tender offer to buy all outstanding shares in Axis AB, a Swedish network video solutions company, for about USD2.8 billion next month, The Peninsula Qatar reported.
The Japanese camera and copier maker confirmed that funds required for the purchase would reach USD2.8 billion.
The company said that the offer is "friendly in nature and the Board of Directors of Axis has decided to recommend Axis's shareholders to accept it".
The offer would be launched soon as Swedish financial authorities and the Stockholm stock exchange give approval, scheduled for early March.
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