Pentax Says “Yes” to Hoya, Finally

Pentax Logo

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.

[Via: Financial Times]

Chris Malinao

About Chris Malinao

Chris teaches Lightroom as workflow software to photography students at the FPPF, Federation of Philippine Photographers Foundation. He also teaches smartphone photography.

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