Pentax and Hoya: now a new phase

[yoshi]

What's the new phase? - as is often the case in this kind of stroy- a quarrel!

[yoshi]

Re: Pentax and Hoya: 6 out of 8 are against.

The hot quarrel was confirmed by Mainichi, another newspaper, last night.
According to the report, six out of eight Pentax board members are against merger with Hoya. On April 4th, they made an urgent motion to the board meeting requesting that the merger plan should be withdrawn. It looks that only the CEO and one more director are for the merger plan at Pentax.

The report continues that the CEO once made up his mind that if the motion had been approved at the board meeting, he would resign in May. The motion was not put to the vote on that day, accepting the CEO’s request.

Based on this confusion, Hoya seems to have immediately determined to change the merger proposal to TOB. So they diffinitely want Pentax and are now ready to pay more – but mainly medical equipment division.
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A pity that camera industry is no more a big interest of money rich larger firms.
Yoshi

P.S. correction to my previous posting.
The Hoya’s reason why they do not want to merger but to make Pentax a subsidiary is the contract between Pentax and a third party lens supplier. The contract does not become invalid, though I said so yesterday, whether it is a merger or a subsidiary. However the contract is just valid to Pentax only, if subsidiary style is chosen as opposed to the idea of one merged company of Hoya and Pentax.

[yoshi]

Pentax to withdraw merger plan tomorrow

Asahi, another daily reported in its i-net version 30min. ago that Pentax board meeting would on April 10th make a decision for the motion submitted earlier, rejecting the merger plan. The current CEO is to resign, taking the responsibility of the confusion.

On the same day, Hoya's board meeging votes for the new idea of TOB against Pentax. Whether or not Pentax board meeting will reject the TOB either is not known. The TOB is therefore an unfriendly one.
yoshi

[yoshi]

Re: Pentax to withdraw merger plan tomorrow

On the same day, Hoya's board meeging votes for the new idea of TOB against Pentax. Whether or not Pentax board meeting will reject the TOB either is not known. The TOB is therefore an unfriendly one.
yoshi

The morning news of Nikkei says Hoya postpone the TOB decision which was expected today. Hoya want to observe what Pentax board members would say about the TOB idea.

yoshi

[yoshi]

Re: Pentax and Hoya: now a new phase

Pentax officially dismissed the idea of the merger today. The new president, however, did stress that Pentax would continuously seek for possibility of cooperation with Hoya in a broader sense. He added this includes TOB but not limited to it. Hoya's partial owning of Pentax shares could also be a possiblity, he continued.

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not sure if this is his real intension or just by courtesy to Hoya.

yoshi

[yoshi]

[Ian]

Re: "No Negotiation with a third party please!"

Hi Yoshi, thanks for this information - I have beeb on holiday for the last two weeks, so sorry for the lack of response from me!

I will summarise the news in a DPNow article later today.

Thanks again!

Ian