The plans that I have seen in the past (personal experience) is that the major stockholders make out real well and whatever happens to the company happens - part of business. Usually a few outside investors and some/most of the board members stand to benefit quite a bit - perhaps retire for life. It is the smaller players (employees, user base, small investors) that suddenly have no company. It is not pretty, but happens commonly.
-- Bruce Tuesday, April 24, 2007, 1:00:49 PM, you wrote: FT> If a merger can't be avoided maybe is good that Urano is back, I FT> suppose he had a plan before start pushing the deal, right? FT> 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
