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Panasonic To Pump $635 Million Into Floundering Olympus

Due in large part to the massive accounting scandal that Olympus found itself in at the end of last year, the company hasn’t been doing that great financially. And now, according to Reuters, Panasonic is preparing to jump to Olympus’ aid by providing approximately 50 billion yen (635 million dollars) in capital. The move will benefit both parties, as Panasonic, who are struggling with sub-par TV sales, will become top shareholder in the company and hopefully add a new stream of revenue to their portfolio.

Even though, at this point, nothing has been confirmed by either company, Olympus has already reaped benefits from the rumored deal. According to Bloomberg, once the news broke, Olympus’ stock rose as much as 3.5 percent and began trading at the highest value the company has seen since March 30th.

(via Photo Rumors via Reuters)


 
 
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  • your new father in law

    that’s awesome.  is she single?

  • jdm8

    This article isn’t helpful, because it didn’t make sense.  The Reuters article made it clear that Panasonic is buying shares of the company, and that makes it clearer.  I don’t know what Panasonic gains by buying into a competing medical device and camera maker, but it could at least be profitable to buy shares low and sell them after the company stabilizes.