TOKYO -- Olympus will sell its entire stake in South Korea-based Taewoong Medical back to the former shareholders, the Japanese company said Friday, rescinding its acquisition after finding problems with data provided by the medical products maker.
Business deals
Japan's Olympus rescinds purchase of South Korean stent maker
Product data problems spur sale of Taewoong back to original shareholders
Olympus had spent $255.5 million on the Taewoong Medical acquisition before discovering the data issues. (Photo by Shoko Kugai)
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