Printed from http://www.electronista.com

Panasonic moves ahead with purchase of Sanyo

updated 01:10 pm EST, Thu December 10, 2009

Panasonic buys majority stake in Sanyo for $4.6B

Panasonic on Thursday said it will take majority stake of Sanyo, in a deal first announced back at the start of November. The deal is worth $4.6 billion and will see Panasonic own 50.2 percent of all Sanyo shares. Once complete, the company will be one of the largest electronics manufacturers worldwide.

Once the deal is complete, Panasonic, the world's biggest plasma TV maker, will be able to share Sanyo's experience in solar panels and rechargeable batteries.

Panasonic wanted to take a greater stake, but Sanyo's shareholders were reluctant to sell more than a minimum controlling stake in the company, likely due to the offered priced being lower than market level.

The delay in the deal came as Panasonic waited for approval from antitrust regulators in the US, China and the European Union. According to Panasonic, the deal will be completed on December 16th. [via New York Times]



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