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Friday, November 6, 2009

Panasonic intends to take over Sanyo next month

Panasonic Corporation says it’s started a “tender offer for Sanyo shares” and plans to obtain a controlling interest. It aims to make Sanyo a subsidiary and then wants to restructure, forming a “close alliance” between the companies. Panasonic and Sanyo announced their plans in December last year; the deal is expected to be completed in mid-December 2009. [Press release (pdf)]

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