Still skeptical that Japan is developing a real market for corporate control? Then you haven't been following the saga of Pentax Corp., the photographic equipment and optical products maker, which just bowed to shareholder pressure to accept rival Hoya Corp.'s takeover offer of $864 million. Hoya originally made a bid for Tokyo-based Pentax in December. Pressure to deal came from Sparx Asset Management, Japan's biggest hedge fund.

Pentax will become a wholly owned subsidiary of Hoya with a new president: former head of corporate development Nobuaki Tanishima.

Go to the story from Bloomberg

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