GE was charged with providing misleading R&D information related to its takeover of Danish rotor blade maker LM Wind, which was approved by the EU in March; the company says it "acted in good faith to meet the EC disclosure requirements and there was no intent to mislead."
While the charges will not affect the EU approvals of the deals, they could lead to fines up to 1% of global revenue for GE and Merck KGaA, and up to 10% for CAJ.
EU antitrust regulators are charging Merck KGaA (OTCPK:MKGAY), Sigma-Aldrich (NASDAQ:SIAL), General Electric (NYSE:GE) and Canon (NYSE:CAJ) for providing misleading information during their merger deals.
While the charges will not affect the EU approvals, they could lead to fines up to 1% of global revenue for Merck and General Electric, and up to 10% for Canon.
Japan's Fair Trade Commission has approved Canon's (NYSE:CAJ) acquisition of Toshiba's (OTCPK:TOSYY) medical equipment unit, but said it would prohibit further use of the deal's unusual structure.
Hurt by an accounting scandal and in a hurry to raise cash before closing its books in March, Toshiba structured the ¥665.5B ($6.5B) sale in an unorthodox way so it could book proceeds before securing approval from regulators.
Laslzo Birinyi still sees underlying strength in the stock market, despite the myriad of economic, technical, and political fears holding back investor enthusiasm.
In particular, the well-known investor has his eyes on AutoZone (NYSE:AZO) and builder NVR (NYSE:NVR) as "special situations" stocks.
Kraft Heinz (NASDAQ:KHC) also makes the list due to its lack of volatility amid a volatile market which could indicate upside down the road. On that point, a quick screen of other consumer goods stocks like Kraft that have weathered the uneven read on U.S. consumer spending and global demand over the last month may tip off some other value picks.
Here's ten consumer good stocks with a low recent volatility measurement, below average forward P/E ratio, and +2% dividend yield: DEO, UN, UL, CAJ, RMCF, KO, PEP, BUD, PM, PG, TM.
Startup Light’s L16 camera is the first salvo in the company's attempt to upend a digital SLR market dominated by Canon (NYSE:CAJ) and Nikon (OTCPK:NINOY). The L16 contains 16 different sets of lenses and sensors - five shoot at 35mm, and the other 11 at 75-150mm - in a form factor resembling that of point-and-shoot cameras. Up to ten of the lenses/sensors simultaneously fire when a picture is taken.
As a result, only zoom and shutter speed are determined at the time of shooting. Unlike with conventional cameras, qualities such as focus and depth-of-field can be adjusted afterwards thanks to the L16’s use of computational imaging. Meanwhile, having up to ten lenses/sensors fire at once allows the L16 to create images as large as 52MP, and helps a lot with low-light photography.
At $1,699, the L16 isn’t cheap. And even if one was willing to spend that much to buy one, pre-orders have sold out. However, Light insists the L16 is simply a proof-of-concept, and that its long-term goal is give consumers cameras that can deliver both professional-quality photos and smartphone-like simplicity. Light could have a tough time winning over professional photographers who depend on DSLRs and their professional-grade lenses. However, the company insists enthusiast consumer photographers are a larger opportunity.
Apple (NASDAQ:AAPL) may be looking to provide similar functionality on a much smaller scale with the iPhone 7. The next-gen iPhone is rumored to sport a dual-lens camera that leverages technology developed by computational imaging startup LinX (acquired in 2015).
Toshiba, which is selling the unit to help fund restructuring after its accounting scandal, says the deal will yield a ~¥590B profit in the current fiscal year ending this month if it closes in time.
However, Toshiba shares are -8% in Tokyo on reports that the company is under investigation by the U.S. Justice Department and SEC over allegations that it hid $1.3B in losses at its nuclear power operations.
Toshiba (OTCPK:TOSYY) will reveal its business strategy for next fiscal year on Friday in an announcement expected to include plans to sell its medical equipment unit to Canon (NYSE:CAJ) and boost its finances following a $1.3B accounting scandal.
The Japanese industrial conglomerate is also in late-stage talks to sell its white goods business to the Midea Group, in a deal that's expected to fetch tens of billions of yen.
Looking to bolster its finances as it grapples with the fallout from a damaging accounting scandal, Toshiba (OTCPK:TOSYY) is planning to sell its entire medical equipment unit rather than just a controlling stake, Reuters reports.
Aggressive offers from KKR, Canon (NYSE:CAJ), Fujifilm (OTCPK:FUJIY) and Konica Minolta (OTCPK:KNCAY), could value the business at much more than initial estimates of $3.5B.
The deadline for the second round of bidding is Friday.
Citing Lexmark's (LXK +5.3%) recent selloff, Credit Suisse's Kulbinder Garcha has upgraded the printer/content management software provider to Neutral ahead of its Feb. 23 Q4 report. His target remains $31.
Shares are now up 18% over the last two days. They jumped yesterday after Bloomberg reported Lexmark had received bids from P-E firms Thoma Bravo and Vista Equity for its software unit. Bloomberg added Japan's Canon (CAJ +2.3%) and Ricoh have shown interest in Lexmark's hardware ops.
Canon (NYSE:CAJ) is looking to spend another $3B to acquire a company in a growth sector after announcing it would buy security camera maker Axis Communications in February.
"We’re looking for a company with technology that we don’t have and that complements our technological capabilities," CEO Fujio Mitarai said in an interview. "The field of chemistry related to human life and medical care looks like a promising industry."
Mitarai also added that he's seeking opportunities both at home and abroad.
Hedge fund Elliott Management has disclosed a 7.5% stake in Swedish surveillance camera maker Axis Communications (OTC:AXSAF), potentially raising pressure on Japan's Canon (NYSE:CAJ) to raise its bid for the firm.
Following the disclosure, Axis shares rose as high as 343.10 crowns ($39.84), above the 340 crown price Canon offered when it launched its bid in February to buy Axis.
Canon's bid represented a 49.8% premium to the share price at the time.