Printed from http://www.electronista.com

Panasonic finalizes deal to buy Sanyo

updated 09:30 am EST, Thu December 18, 2008

Panasonic Wraps Sanyo Buy

Panasonic on Thursday is said (membership required) to have successfully landed an agreement to buy Sanyo. The deal follows several weeks of talks and sees Panasonic buy a controlling 70 percent stake in Sanyo from companies that already had influence in the firm, including the American bank Goldman Sachs. The value of the buyout is estimated at the equivalent of $6.4 billion and creates one of the largest Japanese electronics ever, competing with Hitachi.

The union of the two companies is widely understood to focus on the energy side of Sanyo's business and would create one of the single largest companies producing batteries for electronics, including lithium-ion packs, as well as a leader in solar power. It also promises to give the combined company an edge in camcorders and other fields where both already produce similar devices.

Such a deal would be subject to government approval; neither of the involved companies is known to have said when they expect the merger to take full effect.



By Electronista Staff
Post tools:

TAGS :

toggle

Comments

Login Here

Not a member of the MacNN forums? Register now for free.

toggle

Network Headlines

toggle

Most Popular

Sponsor

Recent Reviews

Dell AD211 Bluetooth speaker

For all of the high-priced, over-engineered Bluetooth speakers in the electronics market, there is still room for mass-market solution ...

VisionTek 128GB USB Pocket SSD

USB flash drives dealt the death blow to both the floppy and Zip drives. While still faster than either of the old removable media, sp ...

Kodak PixPro SL10 Smart Lens Camera

Smartphone imagery still widely varies. Large Megapixel counts don't make for a good image, and the optics in some devices are lacking ...

Sponsor

toggle

Most Commented

 
toggle

Popular News