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Canon loses court challenge against EU fine over 2016 acquisition

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BRUSSELS, May 18 — Japanese camera and printer maker Canon lost its challenge against a €28 million (RM129 million) EU fine today after Europe’s second-top court upheld the...

BRUSSELS, May 18 — Japanese camera and printer maker Canon lost its challenge against a €28 million EU fine today after Europe’s second-top court upheld the sanction imposed for jumping the gun in a 2016 acquisition.

The European Commission in its 2019 decision said Canon breached the rules by using a so-called “warehousing” two-step transaction structure involving an interim buyer to purchase Toshiba Corp’s medical unit before gaining regulatory clearance.

 

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