Pentax call off merge with Hoya Corp

Press Release:

The merge between Pentax and Hoya Corporation, a maker of glass chip-making and flat displays, and Pentax was called off after Pentax investors asked the firm to raise their offer. Hoya met on Tuesday to discuss the matter but failed to come to a decision, although they are planning to continue talks with Pentax in relation to new merger possibilities.

The future of the merge looks even more uncertain with Pentax president Fumio Urano's set to resign on Tuesday, and be replaced by Takashi Watanuki, who originally voted against the merger.

While Pentax have decided to scrap the merger with Hoya Corporation, they are remaining open to considering a merger on different terms.