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| Joined: | Sun Sep 4th, 2005 |
| Location: | Florida &, Arizona USA |
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Friday, 21 Nov 2008 01:00am EST
Seiko Epson Corporation announced that the Company and its subsidiary, Orient Watch, has signed a stock swap agreement on November 21, 2008 to enable Seiko Epson to fully acquire Orient Watch. Seiko Epson conducted a successful takeover bid to acquire 79.05% stake of Orient Watch during the period from September 25, 2008 to November 13, 2008. Shareholders of the remaining shares of Orient Watch will be paid JPY 130 per share, which is the same price as the offering price for the takeover bid, in the middle of April 2009. The full acquisition will become effective on March 1, 2009.
Hopefully, they will not abandon all of Orient's proprietary movements.