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.