Wholly owned must mean something different over there. Here you need 100% of the shares. Controlling interest which is what they seem to be talking about is somewhat different.
graywolf http://www.graywolfphoto.com http://webpages.charter.net/graywolf "Idiot Proof" <==> "Expert Proof" ----------------------------------- Roman wrote: > Hoya outlines Pentax camera plans > > /Chris Cheesman/ > Pentax camera plans > Hoya has hinted at plans to cut digital camera production costs as part > of restructuring needed after completion of its bid for Pentax - a > process which formally begins today, July 3rd. > > In a statement spelling out the challenges it faces Hoya said: > 'Significant structural changes have occurred in optical equipment and > related materials since the emergence of digital cameras. Competitors in > Asia have grown rapidly and are expected to continue gaining market > share through low price campaigns and increasing the added value of > their products.' > > The statement added: 'Along with existing optical manufacturers, home > appliance makers have also entered the digital camera market, further > intensifying competition in this area. In order to maintain growth in > this environment, it is necessary to distinguish from competitors by > reinforcing cost competitiveness by lowering production costs and by > increasing added value focusing on technologies.' > > Hoya admits that a 'qualitative transformation' of its business > structure would be necessary to achieve this. > > The statement, dated 2 July, continued: 'In optical equipment and > related materials we believe that, if the Target's [Pentax's] optical > design and processing technologies and the Tender Offerer's [Hoya's] > optical material development and precision processing technologies and > mass production capability of optical lenses are vertically integrated, > we could become the only optical manufacturer in the global market > having [sic] the ability of creating new optical module system products.' > > Hoya is today expected to start its tender offer for more than 50% of > Pentax shares in a deal worth up to 105 billion yen which will make > Pentax a wholly-owned subsidiary. > > > Tuesday 3rd July 2007 > > -- PDML Pentax-Discuss Mail List PDML@pdml.net http://pdml.net/mailman/listinfo/pdml_pdml.net
