Ricoh Swings Accord to Acquire IKONOctober 2008
The offer represents a 33 percent premium over IKON's daily closing price of the 60 days leading up to the transaction. Ricoh will finance the deal through its own resources and external funding. The transaction is subject to approval of North American and European antitrust entities.
IKON also announced that it plans to close 23 of its 71 offices that provide document management products and services to the legal industry. As a result, it will lay off 265 people in the United States and another 50 in Europe.