Panasonic and Samsung pursuing alliance with Olympus?
updated 09:55 pm EST, Tue January 31, 2012
Leak corroborates earlier reports
Both Panasonic and Samsung are reportedly engaged in talks that may lead to a financial partnership with Olympus. Details posted in the Mainichi newspaper corroborate earlier leaks surrounding a potential deal with Samsung, while also pointing to separate negotiations with Panasonic and another Japanese company.
The reports shed light on closed-door negotiations as several major players are believed to be competing to provide financial backing to Olympus, which recently admitted to a financial scandal dating back to the '90s. The company is facing a $1.7 billion accounting discrepancy, leading shareholders to dump the stock and cut its market cap in half.
Although Olympus produces cameras for the consumer market, the company's core strength lies in its dominant position in the market for medical endoscopes.
Separate reports suggest Sony may be the most likely suitor, as both companies are rumored to be close to finalizing an agreement. An alliance with any company is expected to require approval from the company's fresh management team and a vote at the next shareholders meeting in April. [via Reuters]
