10 December 2009
folder [featCategs]
Panasonic buys Sanyo in $4.6 billion deal
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JAPANESE electronics giant Panasonic Corp. has announced that it has acquired a 50.19% controlling stake in Sanyo, in a deal worth $4.6 billion USD (403.8 billion yen).
Panasonic is expected to make Sanyo into a subsidiary on December 16, which will make it Japan's second-largest electronics company after Sony.
Panasonic’s tender offer for Sanyo,
made last month, offered to pay 131 yen per share in the company.