Seven weeks ago the Pentax/Hoya ?merger? plans lay in tatters. Today, after weeks of uncertainty, Hoya has stated that Pentax will become a wholly-owned subsidiary of Hoya – in a takeover deal worth 105 billion yen (around £437m).
A statement released by Hoya dated 31 May confirms: ?Hoya Corporation and Pentax Corporation have entered into an agreement to effect their management integration by making Pentax a wholly-owned subsidiary of Hoya through a tender offer by Hoya to purchase all shares of Pentax to be followed by a share exchange or other appropriate business re-organisation transaction.?
Citing a date of ?early June?, Hoya said it will offer 770 yen for each share of Pentax.
The Hoya statement adds: ?After the completion of the tender offer, while considering methods for achieving full management integration, Pentax will conduct its business as an independent legal entity and maintain its corporate name??
At the time of writing we were awaiting comment from Pentax UK.
For AP’s previous Pentax/Hoya articles see here: