In December of last year, Hoya and Pentax issued a statement speaking of their intention to merge their two companies. Today, Pentax has announced an intention to dump the share-swap plan in favor or a cash purchase plan that is approximately 17% more than the original share-swap plan. This news should be great to share holders in Pentax, as the new offer ($830 million) would bring them more in the end.
It will be interesting to see how the merger pans out. The two Tokyo based companies said in December 2006 that they would create Hoya Pentax HD Corp.