Sony makes acquisition proposal for Japan lens maker Tamron

By Sam Nussey

TOKYO, ‌July 30 (Reuters) - ​Japanese ​camera lens maker Tamron said on Thursday it has received an acquisition proposal from ‌Sony Group and that it has established ⁠a committee to review its options.

The optical components manufacturer said ‌in a statement that ‌Sony made a non-binding proposal for a series of transactions to turn it into a wholly ​owned subsidiary.

Tamron's shares were untraded with a glut of buy orders in early Tokyo ⁠trade. The company had a market capitalisation of $1.18 billion as at Wednesday's ​close. Sony's shares were down 1.7%.

A Sony spokesperson said the entertainment and technology conglomerate ​believes the proposal will enhance ‌Tamron's corporate value and the interests of its stakeholders, and contribute to ⁠the development of Sony's imaging business.

Sony is a manufacturer of cameras and image sensors, while Tamron is a ⁠supplier of lenses for its cameras as well as for ​cameras made by Nikon and Canon.

Sony owns 14.7% of Tamron, LSEG data showed. Singapore-based Effissimo Capital is the largest ‌shareholder with 17.4%.

Shares in Sony have been under pressure in recent months as ‌investors worry about high memory chip prices and ⁠the impact of artificial ‌intelligence on its ​entertainment business.

(Reporting by Sam Nussey and Hina Suzuki; Editing by Jacqueline Wong and Christopher ‌Cushing)

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