On 10/05/07, Joseph Tainter <[EMAIL PROTECTED]> wrote: > Me earlier: > > "There were reports that Pentax management would attempt to counter > Hoya's offer, and were talking to sources of finance about this. Was > this to buy up the Pentax shares held by Sparx and Fidelity, or to buy > up Pentax shares on the open market? If so, selling their Tokyo HQ could > be a way to raise funds for this move." > > Follow-up: > > Is selling their valuable Tokyo real estate a way of making Pentax a > less desirable target for aquisition?
The issue is that if the management can prove that they can rationalize the business by sale of non-productive assets and carry on their business plan without resorting to turning to externals sources of capital then they have not limited profit returned to shareholders. So their shareholders can no longer claim that they are not doing the wrong thing by them by not partaking in a merger, that's the theory anyway, they just appear to be incompetent. -- Rob Studdert HURSTVILLE AUSTRALIA Tel +61-2-9554-4110 UTC(GMT) +10 Hours [EMAIL PROTECTED] http://picasaweb.google.com/distudio/PESO http://home.swiftdsl.com.au/~distudio//publications/ Pentax user since 1986, PDMLer since 1998 -- PDML Pentax-Discuss Mail List [email protected] http://pdml.net/mailman/listinfo/pdml_pdml.net
