Japan's Ricoh buys US Ikon

Ricoh increases its presence in the US and Europe by acquiring Ikon for $1.62 billion, and gives Ikon's largest shareholder a healthy return on investment.

JapanÆs Ricoh Company is buying Pennsylvania-based Ikon Office Solutions for $1.62 billion, in a deal cheered by RicohÆs shareholders and analysts.

The offer price of $17.25 per share represents a 33% premium over IkonÆs 60-day average stock price up to August 26 and a premium of 11% on Tuesday's close. For fiscal 2007 Ikon registered revenues of $4.2 billion, down 1.4% year-on-year. But Ikon posted an Ebitda from recurring operations of $203 million and a 4.9% operating margin, up from...

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