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Elliott Management ups Axis stake, complicating Canon bid

2015-03-31 11:07:38| Appliances - Topix.net

Hedge fund Elliott Management has raised its stake in surveillance camera maker Axis AB, a disclosure notice showed, possibly putting pressure on Japan's Canon Inc to sweeten its 23.6 billion crown takeover bid. Canon, the world's leading camera maker, in February launched a friendly offer to buy Axis shares to expand in the fast-growing surveillance camera business amid flagging sales of digital cameras.

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