Any such agreement is moot once the sale is complete. what leverage does Pentax's board have after that. They can't take back the company. I doubt a Japanese court would let one division of a company sue it's parent. Sorry, it just won't wash. If Hoya doesn't give resources to the Imaging division, they won't get it. If Hoya decides the minute after the sale is complete to change the deal then the deal is changed.
[EMAIL PROTECTED] wrote: > Hmmm. I see this as potentially good news. If the agreement calls for Pentax > to retain a majority on its board, then the company's direction might not > change. But it will be able to draw on the resources of Hoya. Pentax has > demonstrated that it can generate profit from the imaging division. Hoya may > prove all too happy to let that develop further. Plus, it's an image tool. > We'll just have to wait and see. > Paul > -------------- Original message ---------------------- > From: "P. J. Alling" <[EMAIL PROTECTED]> > >> Once again not worth the paper it's written on, once the ink is dry. >> However it looks like Pentax's days as a company are over, and that the >> Camera business will be terminated the first quarter it loses a >> percentage point in profits. Pentax management sees itself as a Camera >> and Lens maker first and foremost. Hoya has no such illusions. The only >> thing that could be hoped is the Hoya won't starve the Imaging division >> of R&D money, otherwise it's eventual demise is a self fulfilling >> prophecy on Hoya's part. >> >> Tom C wrote: >> >>> TOKYO (Nikkei)--Pentax Corp. has reached a preliminary agreement to >>> be acquired by optical glass maker Hoya Corp. via a tender offer as soon >>> as early June, bringing to a close a monthlong saga in which the camera >>> maker >>> has sought a path to surviving on its own, The Nikkei learned Wednesday. >>> >>> In a meeting with Hoya Chief Executive Officer Hiroshi Suzuki, Pentax >>> President Takashi Watanuki agreed to back the tender offer on two >>> conditions: >>> that Pentax is not merged with Hoya for the time being -- remaining a >>> subsidiary -- and that six board members are allowed to retain their posts. >>> Suzuki indicated that he would take the matter under consideration, paving >>> the >>> way for the basic accord. The two executives were joined by their financial >>> advisers. >>> >>> Selling off Pentax's digital camera segment had previously been raised as >>> a possibility. But this was not discussed at the meeting, and Hoya >>> officials >>> say the business will not be sold. >>> >>> Tom C. >>> >>> >>> >>> >>> >> -- >> All dogs have four legs; my cat has four legs. Therefore, my cat is a dog. >> >> >> -- >> PDML Pentax-Discuss Mail List >> [email protected] >> http://pdml.net/mailman/listinfo/pdml_pdml.net >> > > > -- All dogs have four legs; my cat has four legs. Therefore, my cat is a dog. -- PDML Pentax-Discuss Mail List [email protected] http://pdml.net/mailman/listinfo/pdml_pdml.net
