Pentax and Hoya Merger Scrapped

Pentax and Hoya issued a joint statement in december declaring their intention to merge in a share-swap. Pentax has announced that it is to scrap this plan, Pentax president Fumio Urano resigned today over this issue. Takashi Watanuki will take over as president of Pentax. Hoya's board subsequently confirmed they will continue to negotiate for a takeover bid. Interesting times indeed...