The key word is majority, but for this type of move it would be the majority of the board not the shareholders. Its not always the same thing, at least not here. The board does not have to take this type of move to a general vote, maybe its different in Japan. The hostile company can however, request a special vote to dump the board, which has happened in the past.
On 5/22/07, Tom C <[EMAIL PROTECTED]> wrote: > It's still accountable to it's shareholders and if the majority of them > don't want to go that route it's hard to buck them off your back. > > The whole thing is a fiasco. It was Pentax's former President (who is > credited, justly or unjustly, with bringing the camera division back to > profitability) that saw the benefits of a merger. It was their new > management that backed out, then threw tantrums, blew smoke with profit and > volume proclamations that the industry viewed as unattainable, and now has > slinked back to the table. > > According to Japanese reports it was an internal management feud that > brought this about. > > http://www.yomiuri.co.jp/dy/editorial/20070522TDY04005.htm > > Tom C. > > >From: Gonz <[EMAIL PROTECTED]> > >Reply-To: Pentax-Discuss Mail List <pdml@pdml.net> > >To: "Pentax-Discuss Mail List" <pdml@pdml.net> > >Subject: Re: Don't want to sound too alarmist but... > >Date: Tue, 22 May 2007 12:52:37 -0500 > > > >I dont know why Pentax does not just take a poison pill if it does not > >want to be acquired by Hoya. I.e. take on alot of debt and buy back > >tons of its stock. Isnt that what american companies do with some > >hostile takeovers? Maybe its not an option in Japan? > > > >rg > > > > > >On 5/21/07, [EMAIL PROTECTED] <[EMAIL PROTECTED]> wrote: > > > In a message dated 5/21/2007 11:57:51 A.M. Pacific Daylight Time, > > > [EMAIL PROTECTED] writes: > > > Personally I don't think Pentax is going down the drain in the > >immediate > > > future (6 months - 1 year). On the other hand, I have no idea how long > >of a > > > future they have. Hoya may take the camera division under their wing, > >and > > > then if they're not successful enough, spin them off or sell them. > >There's > > > an infinite number of scenarios that could occur. > > > > > > Tom C. > > > > > > ======== > > > Yes, while I hate to agree with you, I do. :-) At least re infinite > > > scenarios. > > > > > > I think Pentaxes DSLRs have been too successful recently for I think > >Hoya > > > just to trash them. Also the recent news is that Pentax is going for a > > > subsidiary deal with independent management. But that doesn't mean that > >down the > > > road, if the cameras start losing money, that Hoya won't cut them out > >then. > > > > > > OTOH, maybe Hoya will pour some serious money into Pentax R&D and > >marketing > > > and beef them up. With earlier lens releases (or on time lens releases) > >and > > > some new DSLRs, well... with enough money invested Pentax could > >actually > > > become a player. > > > > > > But it's still too hard to predict anything right now. The deal is not > >even > > > finalized. > > > > > > I just hope that Hoya is smart enough to realize the second scenario I > >gave > > > above is as likely as the first. > > > > > > Marnie aka Doe > > > > > > > > > > > > > > > ************************************** See what's free at > >http://www.aol.com. > > > > > > -- > > > PDML Pentax-Discuss Mail List > > > PDML@pdml.net > > > http://pdml.net/mailman/listinfo/pdml_pdml.net > > > > > > >-- > >PDML Pentax-Discuss Mail List > >PDML@pdml.net > >http://pdml.net/mailman/listinfo/pdml_pdml.net > > > > -- > PDML Pentax-Discuss Mail List > PDML@pdml.net > http://pdml.net/mailman/listinfo/pdml_pdml.net > -- PDML Pentax-Discuss Mail List PDML@pdml.net http://pdml.net/mailman/listinfo/pdml_pdml.net
