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Business

Canon to acquire Toshiba Medical for over $6bn

A Toshiba Medical plant.

TOKYO -- Toshiba has selected Canon as the winning bidder for subsidiary Toshiba Medical Systems.

     Toshiba's board on Wednesday afternoon granted Canon preferential negotiating rights. Canon's bid is worth more than 700 billion yen ($6.21 billion). Board members believe the limited overlap between the two companies' operations will lead to smooth antitrust proceedings.

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