It seems that the Pentax and Hoya merger that was first announced just before Christmas 2006 has hit rocky ground. Plans to merge and rename the company HOYA PENTAX HD Corporation were cancelled on April 4th, according to a report on Bloomberg.com. Now Hoya are attempting a cash takeover of Pentax, offering about 770 yen a share to Pentax shareholders. Hoya’s offer values Pentax at 98.5 billion yen ($830 million), 17% more than the value placed on the company in the original merger. Pentax’s board members are meeting today to discuss the takeover bid from Hoya.

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