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Hedge Fund Can Give Olympus a Clearer Focus

(Bloomberg) Given its history of controversy, the camera and medical-device maker’s embrace of ValueAct is encouraging. Can you teach an old dog new tricks? Olympus Corp. investors appear willing to bet so. Shares of the camera and medical-device maker, which was mired in a $1.7 billion accounting scandal in 2011, have surged to their highest in almost three years after the Japanese company announced a leadership and board shakeup in response to pressure from U.S. hedge fund ValueAct Capital Management.

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