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Hoya Delays Pentax Offer

Hoya announced today they will delay their offer of $864 million to buy out Pentax.

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June 11, 2007 – In the continuing Pentax-Hoya merger saga, Hoya today announced it will delay its tender offer until mid-June. After months of corporate battles, the two companies finally entered into a management integration agreement on May 31, only to again be postponed from the beginning of June to mid-June.

Hoya is consulting regulatory agencies, according to a company press release, before finalizing the tender offer of $864 million that was announced last month. The terms of the agreement will remain unchanged, according to a Reuters article today.

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