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KenC Admin 
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Seiko Epson Corporation Announces Full Acquisition of Orient Watch Co., Ltd. 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. |
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Skipdawg 3T WIS 
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WOW! thanks for the heads up Ken. |
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mcwright Admin 
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Not sure if that is good or bad new. Thanks! :? |
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murphy j 3T WIS 
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mcwright wrote: Not sure if that is good or bad new. Thanks! :? Kinda what I was thinking. I guess we'll just have to wait and see. |
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KenC Admin
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mcwright wrote: Not sure if that is good or bad new. Thanks! :? Me either...hopefully, this is a financial deal and they will let them continue to operate on an autonomous basis. Remember, they did that for years even though they had enough ownership (52%) to take control of the company! |
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mcwright Admin
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In my experience, rarely does an acquistion result in the acquired being allowed to continue doing business as usual. No matter how many times the companies say things won't change, they do. So, we will have to see. I would guess Seiko will push for broader distribution of the line in the U.S. as a start. Meaning Department stores, Discount stores, etc. |
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KenC Admin
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mcwright wrote: In my experience, rarely does an acquistion result in the acquired being allowed to continue doing business as usual. No matter how many times the companies say things won't change, they do. I would say in the typical acquisition, you would be 100% correct, but the difference here being that Seiko already had (and has had for some years)the ability to "take over" the company. They owned 52% of it which is controlling interest in anybodies' book. At 52% ownership, they chose not to make changes...I'm not sure why an additional 28% would...it doesn't give them anymore "power" than they already had. Time will tell! |
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mcwright Admin
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Ok, I can buy that. :) I do think that Seiko, given their own wide distribution, will push harder to expand Orient in the U.S. through more Retail outlets. That is more what I was thinking in terms of change. |
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KenC Admin
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mcwright wrote: Ok, I can buy that. :) Absolutely...and that would be a welcome change. As a financial move now, Seiko will be able to position Orient within it's chains of distribution and the Orient brand will now have the marketing backing to expand. |
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Geoff150 3T WIS 
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Hopefully I'll be able to pick up some Orients at my local Seiko outlet store |
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