IRIS GIVES UPDATE ON CANON'S PLANNED EU44.50/SHR TAKEOVER OFFER
(The following press release from IRIS Group SA was received by e-mail. The sender verified the statement.)
Update on competition approvals by the European Commission regarding the
proposed acquisition of I.R.I.S Group S.A. by Canon Europa NV
Louvain-la-Neuve, January 23, 2013 – Reference is made to the press
release by Canon Europe dated 29 November 2012 in respect of the decision
of the European Commission to accept the request for referral of the case
made by the Belgian Competition Authority.
Canon filed a merger control notification with the European Commission on
14 January 2013. This is due process within the approval procedure.
Canon expects the competition approval process to be completed by early
March 2013, as, in principle, the European Commission has a review period
of 25 working days (which can be extended by 10 working days if the
parties offer commitments). Canon will continue to communicate any
significant developments in that respect.
Canon already received definitive merger control clearance from the
Norwegian competition authority on 26 November 2012.
Canon believes that the proposed bid will have no adverse effect on
competition and will benefit customers. Canon plans to proceed with this
bid as soon as possible and senior management at both companies remain
committed to making this transition a success.
About I.R.I.S. Group
I.R.I.S.’ mission is to increase our customers’ productivity and knowledge
through helping them better manage their documents, data and information.
I.R.I.S. Products & Technologies develops technologies and products for
Intelligent Document Recognition and markets its portfolio on a worldwide
basis through strong partnerships. I.R.I.S. Professional Solutions enables
companies and administrations to find in one company the innovative
expertise and hightech solutions to efficiently manage documents,
information flows and IT infrastructure. I.R.I.S. has more than 500
employees based in Louvain-la-Neuve, Vilvoorde and Brasschaat (Belgium),
Orly (France), Windhof (Luxemburg), Amstelveen and Meerssen (The
Netherlands), Aachen (Germany), Delray Beach (USA), Hong‐Kong (China) ),
Copenhagen (Denmark) and Oslo (Norway). www.iriscorporate.com
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