Panasonic gearing up to offer $635 million bailout to save troubled Olympus

Panasonic is reportedly putting the final touches to a 50 billion yen ($635 million) bailout package to save Olympus. Panasonic will become the largest shareholder of the scandal-ridden camera maker, reeling from a $1.7 billion accounting fraud uncovered last year, with an eye on getting a foothold in Olympus' profitable medical imaging business. It gives us hope that the current range of blockbuster shooters including the OM-D won't be sacrificed in a last-ditch attempt to make the books balance.

Panasonic gearing up to offer $635 million bailout to save troubled Olympus originally appeared on Engadget on Wed, 06 Jun 2012 06:46:00 EDT. Please see our terms for use of feeds.