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Pentax’s acceptance of Hoya’s bid concludes months of corporate battles between the two companies. In December 2006, Pentax and Hoya first announced the merger, entering into a Basic Agreement. The deal was later scraped in April. While merger talks were reopened for negotiation, the deal was spoiled when Pentax rejected the initial tender bid.
Pentax will remain legally independent and maintain its corporate name, according to the release.