Danish shareholder Sparinvest currently holds 5.5% of Océ's shares and is the third business to oppose the deal, according to news agency Reuters.

In January, Hermes Focus Asset Management branded the offer for the Dutch company as "meagre". In November 2009, Orbis Fund Management, which owns around 10% of Océ, said that it would not sell its equity at the current price offered by Canon.

However, Van Iperen has told Océ's shareholders that Canon's offer is "the best we could get" and is the best price for the manufacturer. The shareholders currently have until 1 March to offer their shares.

Japanese manufacturer Canon made a €730m cash offer for digital press manufacturer Océ in November last year with a view to creating "the number one presence" in the digital market.

Read the original article at www.printweek.com.

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