Sony Offers to Acquire Tamron

Tokyo, July 30 (Jiji Press)–Sony Corp. has made a nonbinding proposal to acquire camera lens maker Tamron Co., officials at the Japanese electronics company said Thursday. Sony Group Corp., Sony’s parent company, which owned a 15.35 pct stake in Tamron as of the end of December, plans to purchase additional shares to make the company a wholly-owned subsidiary. “It is true that we are making the proposal,” a Sony official said. “We believe this will contribute to improving Tamron’s corporate value and further developing our imaging business.” Tamron also confirmed that it has received the proposal and said it has set up a special committee to evaluate the offer. Any potential deal would require the consent of other Tamron shareholders, including Effissimo Capital Management Pte. Ltd., an investment firm linked to activist investor Yoshiaki Murakami that held 17.38 pct of Tamron as of the end of March. END [Copyright The Jiji Press, Ltd.]