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19 December 2008

Panasonic's Christmas wish for Sanyo comes true

SANYO shareholder Goldman Sachs has finally agreed to sell its stake in the Japanese company to Panasonic.
The decision by Goldman Sachs comes after rejecting Panasonic's earlier lower offers .

Panasonic's latest offer of 131 yen per Sanyo common share puts Sanyo's price close to £6bn.

Sanyo's two other major shareholders Sumitomo Mitsui Banking Co and Daiwa Securities SMBC Co had already agreed to the deal.
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