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Thread: Merger of Hoya + Pentax

  1. #21
    Senior Member
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    Default Re: Merger of Hoya + Pentax

    Pentax is getting low profits but do not think they have any financial difficulties. If they can solve their efficiency in production and operations. They can compete.

  2. #22

    Default Re: Merger of Hoya + Pentax

    Pentax sounds like a terrible corporation though:

    from: http://uk.reuters.com/article/techno...0?pageNumber=2

    six of eight board members expressed objections to a merger with Hoya at a meeting on April 4 due to concerns that Hoya's corporate governance was too tough
    uh. hello. what kind of a reason is that.

  3. #23
    Senior Member creampuff's Avatar
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    Default Re: Merger of Hoya + Pentax

    The board at Pentax probably felt that Hoya wasn't offering enough for the merger. With the introduction of the new DSLRs, Pentax has shown a healthier financial scorecard and so whatever initial offer Hoya put forward undervalued the new value of Pentax. It also begs the question whether Pentax needs to merge in the light of the improved financial position.

    Secondly, the fear that Hoya's motive was to remove competition in the medical division; higher expectation of returns from the imaging division or worse be divest off those divisions which were not performing well enough.

    Thirdly, the internal disagreements within the Pentax board creates uncertainty. Pentax, while profitable, remains a small player in comparison with its competitors. Certainly the tie-up would have strengthened it financially. The thorny issue is on the future direction and management control of such a merger.

    Well if they can't work with Hoya, maybe they could get their lenses made by Cosina (re-branded Voigtlanders and Zeiss)!!!
    Last edited by creampuff; 11th April 2007 at 06:02 PM.

  4. #24

    Default Re: Merger of Hoya + Pentax

    Hoya = $$$$

    Buy buy buy!

  5. #25

    Default Re: Merger of Hoya + Pentax

    (word is out that Hoya is now considering a hostile takeover bid of Pentax.)

    Pentax set to pull backers of takeover bid from board
    The Yomiuri Shimbun

    Pentax Corp. President Takashi Watanuki and other executives have decided to exclude two former executives who supported a takeover bid by Hoya Corp. from a list of board member candidates to be proposed at a shareholders meeting in June, it was learned Thursday.

    The Pentax management plans to remove former President Fumio Urano and former Managing Director Katsuo Mori from the list to be submitted at the shareholders meeting, where the new members will be elected.

    Investment firm Sparx Group Co., the largest shareholder in Pentax, said Wednesday it would make a stockholder proposal to replace members of the Pentax management to promote the merger with the glassmaker.

    A conflict within Pentax has led to a confrontation between the management and the major shareholder over the board personnel.

    Pentax's shareholders meeting is scheduled for June 22. All eight board members will face reelection there.

    Six of them, including Watanuki, are reluctant to support business tie-up talks with Hoya. By removing Urano and Mori from its board, the management will have no proponents of the merger.

    Sparx said: "Those in the current management [of Pentax] got their posts only as a result of the internal conflict. Their management ability is unknown, and we're not in a situation to believe that they deserve to obtain a mandate from shareholders."

    Sparx's proposal will urge other shareholders to elect Urano and Mori, and Yuji Nishiura, managing director of the Tokyo office of U.S. management consultancy AlixPartners, LLC, as an outside board member.

    According to sources, Sparx employees met with Pentax top executives Wednesday, shortly before the deadline for the submission of shareholder proposals. The Sparx proposal was submitted to the Pentax executives.

    The Pentax side told the Sparx employees that it would not approve of reelecting Urano and Mori, but proposed to have an outside board member to strengthen transparency in its management.

    The camera maker also suggested it was willing to include several individuals backed by Sparx on its board, the sources said.

    Sparx expressed an intention to have talks with Pentax on the matter. However, depending on the way the discussion goes, a proxy scramble could ensue, according to the sources.

    (Apr. 27, 2007)

  6. #26

    Default Re: Merger of Hoya + Pentax

    It is a done deal!


    From today's news, Pentax has agreed to accept Hoya's offer (750 yan per share) and the merge is finally a done deal



    Source (hope you can read Chinese):

    终成定局!宾得接受HOYA公开收购提案

    .
    Last edited by fengwei; 28th April 2007 at 12:03 AM.

  7. #27

    Default Re: Merger of Hoya + Pentax

    Quote Originally Posted by fengwei View Post
    It is a done deal!


    From today's news, Pentax has agreed to accept Hoya's offer (750 yan per share) and the merge is finally a done deal



    Source (hope you can read Chinese):

    终成定局!宾得接受HOYA公开收购提案

    .
    hmmmmpph... one looks happy while the other looks so stunned. haii.. so who is who?

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