If a merger can't be avoided maybe is good that Urano is back, I suppose he had a plan before start pushing the deal, right?
On 4/24/07, Tom C <[EMAIL PROTECTED]> wrote: > Excerpts... > > TOKYO (Nikkei)--Pentax Corp.'s top shareholder, Sparx Group Co., plans > to back the appointment of directors to the camera manufacturer's > board who would support Hoya Corp.'s tender offer plans > > This could bode ill for Pentax President Takashi Watanuki and others who > voted down a proposed merger with Hoya and are said to be against a business > integration with the firm. Sparx aims to use its 23.98% stake in Pentax to > nudge the company toward accepting a business integration with Hoya. > > With all eight Pentax directors facing re-election at an upcoming general > shareholders meeting scheduled for June 22, Sparx plans to propose the > reappointment of former President Fumio Urano and former Executive Vice > President Katsuo Morio to the board. The pro-merger Urano and Morio were > relieved of their duties as executives earlier this month. > > ... > > Sparx apparently believes that its proposed appointments will go through > if it can win the support of overseas shareholders who are highly conscious > of > measures aimed at improving Pentax's enterprise value. > > Sparx had supported Urano's efforts to pursue a merger with Hoya amid the > belief that Pentax would not be able to survive on its own. > > ... > > Citing an internal rift at Pentax, Sparx will call for an overhaul of the > camera manufacturer's leadership to prevent an erosion in the company's > share > price and other enterprise values. > > > Tom C. > > > > -- > PDML Pentax-Discuss Mail List > [email protected] > http://pdml.net/mailman/listinfo/pdml_pdml.net > -- PDML Pentax-Discuss Mail List [email protected] http://pdml.net/mailman/listinfo/pdml_pdml.net
