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Old Aug 7, 2007, 9:06 PM   #1
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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

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Old Aug 8, 2007, 1:00 PM   #2
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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.
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Old Aug 8, 2007, 7:07 PM   #3
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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.

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