Canon Inc. entered into an agreement to acquire remaining 13.4% stake in stake in Axis AB (OM:AXIS) from Elliott International, L.P. managed by Elliott International Capital Advisors Inc. and The Liverpool Limited Partnership managed by Elliott Management Corporation and others for SEK 3.4 billion.

Canon Inc. (TSE:7751) entered into an agreement to acquire remaining 13.4% stake in stake in Axis AB (publ) (OM:AXIS) from Elliott International, L.P. managed by Elliott International Capital Advisors Inc. and The Liverpool Limited Partnership managed by Elliott Management Corporation and others for SEK 3.4 billion on October 22, 2018. As part of the transaction, Canon will remaining shares at SEK 363.75 per share. Post transaction, Canon intends to apply for delisting of Axis AB from the Nasdaq Stockholm.

Axis AB will remain an independent wholly owned entity within the Canon group. Post the transaction, Canon also intends to initiate a compulsory acquisition procedure under the Swedish Companies Act to acquire all remaining shares in Axis AB. The deal is resolved by Board of Directors of Canon.