Sony proposes acquisition of Japanese lens maker Tamron

Japanese camera lens maker Tamron announced on Thursday that it has received a nonbinding acquisition proposal from Sony Group. The proposal outlines a series of transactions intended to make Tamron a wholly owned subsidiary of Sony. Tamron has established a special committee to evaluate the offer and its options.

In a statement, Tamron confirmed the proposal from Sony, a major player in cameras and image sensors. Sony stated that it believes the acquisition would enhance Tamron's corporate value and serve the interests of its stakeholders, while also contributing to the development of Sony's own imaging business. Tamron supplies lenses not only for Sony cameras but also for those made by Nikon and Canon.

Tamron's shares were untraded with a large number of buy orders in early Tokyo trading following the announcement. As of Wednesday's close, the company had a market capitalization of $1.18 billion. Sony's shares saw a decline of 1.7%. Sony currently holds a 14.7% stake in Tamron, according to LSEG data. The largest shareholder is Singapore-based Effissimo Capital, which owns 17.4%. Investors have recently expressed concerns about Sony due to high memory chip prices and the potential impact of artificial intelligence on its entertainment sector.