Hoya Corp. chief executive Hiroshi Suzuki and Pentax Corp. President Takashi Watanuki will meet Wednesday in Tokyo to discuss Hoya’s plan to make a public tender offer for the camera maker, according to sources.
Hoya hopes to confirm Pentax’s position on the matter before deciding, possibly by Monday, whether to launch the tender offer, the sources said Tuesday.
Pentax nullified an equity-swap merger with the leading optical glass manufacturer last week because of an in-house dispute over the plan.
In response, Hoya proposed making an open tender offer. Pentax said it would think about it.
Sparx Group Co., the largest shareholder in Pentax, criticized the camera maker Monday for giving up on the merger and called on it to come up with an alternative plan to raise its corporate value.
Watanuki was expected to meet with executives of Sparx Group, a Tokyo-based investment company, later Tuesday for a briefing on the camera maker’s future plans, the sources said.
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