 On May 25, the Pentax board of directors accepted Hoya's offer for a merger.On August 6, 2007, Hoya completed a friendly takeover bid for Pentax and acquired 90.59% of the company.On October 29, 2007, Hoya and Pentax announced that Pentax, as the company ceasing to exist, will merge with and into Hoya on March 31, 2008.