Japan's Ricoh to buy IKON Office for $1.62 billion
IKON Office Solutions, which sells and leases copiers, printers and
other office machines, has agreed to a $1.62 billion buyout offer from
one of its suppliers, Ricoh Co. of Japan.
The deal will combine IKON's sales and service capabilities with Ricoh's engineering and manufacturing expertise, IKON said.
The
cash offer of $17.25 per share disclosed Wednesday represents a 33
percent premium to IKON's average stock price for the last two months,
the companies said.