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Leveraged Buyouts

Olympus stock plummets amid scandal

Olympus stock plummets amid scandal

Japan's Olympus came under more pressure to disclose details of payments made in a series of acquisitions as its shares plunged for a third straight day following the unexpected dismissal of its chief executive last week. British former CEO Michael Woodford, who had worked for the camera-maker for 30 years, has told media he believes he was ousted for probing what he said were excessive payments related to the buyouts of British medical equipment-maker Gyrus and three small domestic firms. The Japanese firm reiterated in a statement on Tuesday that Woodford was dropped because of a clash in management. The Tokyo company is parent to Olympus Corporation of the Americas, which has...

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