Hoya Corp. announced Thursday that it will launch a tender offer for Pentax Corp. as early as June 4 in an attempt to turn the camera maker into a wholly owned subsidiary, ending a two-month takeover battle that caused Pentax to replace its president.
Hoya, the world's leading maker of optical lenses and glasses, will offer 770 yen per share, which will cost the firm 105 billion yen for all outstanding Pentax shares.
The purchase of Pentax is expected to give Hoya a competitive edge in the fast-growing business of medical equipment, including endoscopes.