Pentax buyout

[NonEntity1]

Not unexpectedly, Hoya was successful in their buyout of Pentax. Hopefully this will end up in more capital being devoted to R&D and marketing.

http://www.chron.com/disp/story.mpl/ap/fn/5032991.html

Tim

[penolta]

I was not aware that Pentax management had refused to be bought out, only to cave in finally to shareholder pressure to accept a tender offer from Hoya. The way the article is written, it sounds likeHoya undercut Pentax's management by exploiting the profit motive at the grass roots.

[NonEntity1]

Pretty much. There was an initial agreement, then there was a revolt on the Pentax BoD which ousted the president who had spearheaded the merger and the deal was called off. Then there was a revolt of shareholders who favored the deal, led by one large investment company, that resulted in Hoya sweetening theoffer slightlyand Pentax coming back to the table.

Tim