In a change of plan Hoya will 'merge' with Pentax on 31 March 2008, instead of Pentax becoming a 'wholly-owned subsidiary' of Hoya. The move is designed to strengthen Pentax businesses by enabling Pentax management to put plans into practice more quickly.
The two companies had originally planned to merge in an agreement first discussed in December last year.
But subsequent talks led to Hoya buying around 90% of Pentax shares, thereby making Pentax a wholly-owned subsidiary of Hoya.
Chris Cheesman
more : amateurphotographer
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