Canon has fallen short of its target in its takeover bid of Dutch printer manufacturer Oce. The Japanese manufacturer reported that it acquired more than 71 percent of shares of Oce in the bid that closed Monday, short of its target of at least 85 percent.

Canon, which offered to buy Oce in November at a price that valued the company at 730 million euros, said it would decide by Thursday whether it would be satisfied with taking a 71 percent stake, extend the tender offer, or walk away from the deal. Some Oce shareholders have come out against Canon's 8.6 euro per share offer as too low.

Hermes Asset Management and Universities Superannuation Scheme have asked a Dutch court to look into the negotiations between Canon and Oce.