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According to a press release from Canon, the company plans to acquire about 14 million of its own shares which will cost between $450-$500 million dollars.
The company is doing the stock acquisition with the “aim of improving capital efficiency and ensuring a flexible capital strategy that provides for such future transactions as share exchanges.”
Canon plans to acquire the 14 million shares between June 1, 2017 – July 14, 2017.
You can see the press release here.