(FT1) Very wild rumors: Samsung wants to buy Olympus shares? (+Olympus apologies).
Before you read this. The rumor is based on non proved facts. I received that anonymous tip and have no way to double check it. So take it easy! It’s quite “strange” but I post it anyway. Here is the text of the rumor:
“Well, the OlympusDrama is taking a new dimension in Wall Street, here is a strong rumors about a requirement for Samsung Medical Device Development (a Samsung Electronic Division) to an evaluation company about the Olympus Medical Devices unit. Samsung could be looking for the opportunity to buy a good bunch of stocks.”
Just my tow cent on this: Although the rumor is talking about the interest from Samsung about the medical part of Olympus also the camera division could interest them. Samsung is heavily investing in their mirrorless system and an Olympus acquisition would help them to gain lot of technical skills and historical experience.
Back to real news:
Mr. Noda (prime minister of Japan) said that the allegations surrounding Olympus may be taken as indicative of how the whole country operates. And: “What worries me is that it will be a problem if people take the events at this one Japanese company and generalise from that to say Japan is a country that does not follow the rules of capitalism” Source: Techradar.
And the next news is that Olympus president Shuichi Takayama said: “We wish to make a profound apology for all the distress and trouble caused due to the recent series of media reports and fall in stock prices triggered by our recent change in President. The past acquisitions mentioned in the media were handled with the appropriate evaluations and procedures. These transactions were in no way improper and we are setting up an external panel of experts to examine and report on this acquisitions activity…We sincerely hope to conclude this situation as quickly as possible to restore society’s trust in us and to bring reassurance to our customers, business partners, shareholders and employees. Thank you for your continued understanding and support.” (Source: AP).
And MR. Woodford said “Olympus will survive the controversy and is a good business. There’s nothing wrong with the company. So the company will go on“. (Source: AP).
—
A reminder: Months ago a rumor from one of my trusted sources said that Samsung offered Four Thirds sensor for Olympus. I still don’t know yet if Olympus will consider that option.
FT1=1-20% chance the rumor is correct
FT2=21-40% chance the rumor is correct
FT3=41-60% chance the rumor is correct
FT4=61-80% chance the rumor is correct
FT5=81-99% chance the rumor is correct