Panasonic to buy 50.2% stake in Sanyo

Panasonic to buy 50.2% stake in Sanyo


Panasonic Corp, said on Thursday, that it will take majority control of Sanyo Electric Co in a US$4.6 billion deal, forging one of the biggest electronics makers in the world.
Panasonic said it will buy 50.2 per cent of Sanyo for ¥403.78 billion (US$4.6 billion) after closing its five-week tender offer that began on November 5. It will pay ¥131 per Sanyo share.