Pentax Says ¡°Yes¡± to Hoya, Finally
Date Posted£º2007-5-18 9:52:02

Camera maker Pentax has finally agreed to a takeover bid from optical glassmaker Hoya after a period of on-again, off-again negotiations.

Pentax President Takashi Watanuki Thursday said he has ¡°informally accepted¡± Hoya’s offer of ¥770/share from Hoya CEO Hiroshi Suzuki. The takeover offer raises Pentax’s value to ¥98 billion, or $810 million.

The previous offer, which valued the camera maker at ¥91 billion, was rejected by the Pentax board and cost former CEO Fumio Urano his job.

The Pentax board of directors is set to formally approve the new Hoya offer in a board meeting next week.

Publisher£ºChina Conserves energy lamp net