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#1 |
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Join Date: Jul 2006
Location: Lake Placid Florida USA
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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 Tim |
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#2 |
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Join Date: Apr 2007
Location: California USA
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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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#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.
Tim |
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